Today, the Americans will enter the market after celebrating Martin Luther King Day. Therefore, the market is likely to be rather volatile. It can be seen from the chart, there are no clear trends. Thus, this is not the best time for trading this currency pair. In my opinion, we need to have clear support and resistance levels with several extreme points. Therefore, the best way is to wait for the price to form a pronounced trend. A good signal in the technical and graphical analysis is a signal which indicates a rebound from the support and resistance zones. The price is currently close to such a support price zone, so I have placed a buy order. It has not triggered yet, but I think the price may touch soon. I believe that the most probable scenario implies the pair's movement from the support price zone.
Speaking of the AUD/USD pair, despite its stagnation and the Australian dollar's correction, I think that the quotes have every chance to resume their upward movement. According to the daily chart, the current trend is bullish. Many market participants are quite optimistic. Therefore, the pair is likely to continue moving upwards. In such a case, the best way to make a profit is to buy the pair, of course, with carefully calculated risks and amid at least slight corrective pullbacks. Long positions can be opened above 0.7460 with a view to reaching the target levels of 0.7820 and 0.7990.