- AUD/USD fell back from 0.7734 level (July 1st high ) and is trying to test support level at 0.7624 (23.6% Retracement Level).
- The pair is currently trading around 0.7667 level. It is expected decline further towards 0.7600 and later 0.7550.
- Short rally around 0.7730 should be taken as advantage for selling opportunities, as Aussie dollar is weak against the US dollar in the short term.
- To the upside, the strong resistance sits near 0.7683, A break above this level would take it to upside to next resistance level at 0.7774.
- To the downside immediate support sits at 0.7624 (23.6% Retracement level) a break below this level will take the pair to next level at 0.7585.
Recommendation: Go short below 0.7680, targets 0.7620, 0.7580, SL 0.7760
Resistance Levels
R1: 0.7683 (38.2% Retracement level)
R2: 0.7724
R3: 0.7774
Support Levels
S1: 0.7624 (23.6% Retracement level)
S2: 0.7585
S3: 0.7533


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