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FxWirePro: AUD/USD attempts 0.77 handle, momentum bullish - stay long

  • Comments from Reserve Bank of Australia (RBA) governor Stevens offered no dovish surprises.
     
  • AUD/USD remains on the front foot, attempts to retake the 0.77 handle, intraday bias higher.
     
  • Supports are seen at 0.7652 (5-DMA), 0.7621 (Aug 9 low) and 0.7608 (10-DMA).
     
  • Resistance is located at 0.7719 (May 3 high), 0.7774 (Apr 22 high) and 0.78.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-breaks-major-resistance-at-07630-good-to-go-long-on-dips-244769) is progressing well.
     
  • Targets 1 and 2 have been achieved. We see scope for further gains. Recommend booking partial profits, raise trailing stop to 0.7660, hold for 0.7720/ 0.7775.
     
  • Market Data
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