FxWirePro: AUD/USD key resistance at 0.7381, sell deals are recommended below 0.7320

AUD/USD rebounded strongly from 0.7200 levels to hit daily highs at 0.7292 levels. However, the pair is retreating back after hitting strong resistance at 0.7292 levels. AUD/USD pair is expected to decline further towards 0.7200 and later 0.7150 levels in the short term. As the resistance level at 0.7381 is likely to hold the Aussie bulls and push the pair downwards, therefore short rally near 0.7320 levels should be taken as advantage for selling opportunities.

• To the upside, the immediate resistance can be seen at 0.7292, a break above this level would take the pair all the way towards 0.7381 levels. 
   
• To the downside, the first support level lies at 0.7200 (61.8% Retracement level).
  
  Recommendation: Go short below 0.7320, targets 0.7200, SL 0.7380
  
  Resistance Levels
  
  R1: 0.7292 (Oct 14th high)  
  R2: 0.7381 (Oct 12th high)
  R3: 0.7443 (Aug 11th high)
  
  Support Levels
  
  S1: 0.7200 (61.8% Retracement level) 
  S2: 0.7144 (50% Retracement level) 
  S3: 0.7090 (38.2% Retracement level)