FxWirePro: Strong support for AUD/USD at 0.7075, good to buy dips

AUD/USD closed Monday's trade above channel support at 0.7085. 

• The pair trades a narrow range on the day between 0.7108 and 0.7083, but holds above major support at 0.7075.
   
• Breaks below could see weakness, pullback upto 0.7060 then looks likely.
   
• But as long as 0.7075 support holds, the pair could test 0.7132 and then 0.7160 levels.

Recommendation: Good to buy dips around 0.7080, SL: 0.7050, TP: TP1: 0.7130, TP2: 0.7150

Resistance Levels:

R1: 0.7089 (10 DMA)

R2:  0.7092 (Daily Tenkan)

R3: 0.7098 (5 DMA) 

Support Levels:

S1: 0.7075 (Channel top)

S2: 0.7080 (Nov 16 low) 

S3: 0.7067 (Double bottom 29th & 30 th Oct)