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Aussie breaks short term resistance 0.7820, weakness only below 0.7750

  • RES 4: 0.7945 (61.8% retracement of 0.8160 and 0.75977)

  • RES 3: 0.7930 (May 22nd high)

  • RES 2: 0.7860

  • RES 1 : 0.7820 (Jun 3rd high)

      PRICE: 0.7836 @ 13:08 GMT 

  • SUP 1: 0.7780 (resistance turned into support)

  • SUP 2: 0.7740 (20 day HMA)
  • SUP 3: 0.7710 (55 day 4 H EMA)
  • SUP 4 :0.7670 (Jun 12th low)

Commentary:

Aussie has broken short term resistance 0.7820 and a jump till 0.7930 is possible.

On the upside minor resistance is around 0.7860 and break above would extend gains till 0.7930.

Short term weakness only below 0.7750.

It is good to buy at dips around 0.7800 with SL around 0.7750 for the TP of 0.7930.

 

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