- AUD/USD fell back from 0.7732 level and tested 0.7692 level (38.2% Retracement Level). Currently it's resuming upwards to test 0.7750 level (61.8% Retracement level)
- The pair is currently trading around 0.7740- 0.7732 level. It is expected decline further towards 0.7700 and later 0.7650.
- Short rally around 0.7750- 0.7760 should be taken as advantage for selling opportunities, As AUD dollar is weak against the US dollar in the short term.
- To the upside, the strong resistance sits near 0.7787, A break above this level would take it to upside to next resistance level at 0.7813.
Recommendation: Go short below 0.7760, targets 0.7720, 0.7680, SL 0.7790
Resistance Levels
R1: 0.7750 (61.8% Retracement level)
R2: 0.7770
R3: 0.7787
Support Levels
S1: 0.7721(50% Retracement level)
S2: 0.7704
S3: 0.7692 (38.2% Retracement level)
