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FxWirePro: AUD/USD holds strong trendline support at 0.7653, good to go long on dips

  • Reserve Bank of Australia minutes released earlier today failed to provide any indication of future interest rate moves.
     
  • Australian dollar has dipped slightly after the minutes, but has recovered from session lows at 0.7653 and is currently trading at 0.7684 levels.
     
  • Techs support upside in the pair, Stochs and RSI are biased higher. 
     
  • The pair is currently struggling at 4H 20 MA at 0.7682, break above could see upside upto 0.7725.
     
  • Immediate support is seen at 0.7673 (1H 20 SMA), then 0.7653 (session low) and 0.7583 (20-day MA).

Recommendation: Good to go long on dips around 0.7660/70, SL: 0.7620, TP: 0.77/ 0.7725
 

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