- AUD/USD fell back from 0.7438 level test support level at 0.7344 levels (61.8% Retracement Level). Currently it's resuming upwards to test resistance at 0.7404 levels.
- The Aussie is currently trading around 0.7398 levels. It is expected decline further towards 0.7350 and later 0.7300 levels.
- Short rally around 0.7430- 0.7420 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 can be seen at 0.7404, a break above this level would take it to next resistance level at 0.7456.
Recommendation: Go short below 0.7400, targets 0.7350, 0.7320, SL 0.7480
Resistance Levels
R1: 0.7404
R2: 0.7456
R3: 0.7490
Support Levels
S1: 0.7367
S2: 0.7344 (61.8% Retracement level)
S3: 0.7326
