AUD/USD Trade Idea

• AUD/USD consolidates in narrow range 0.7320-0.7409 for the past two trading session.
  
  
• Major trend reversal level- 0.7385
  
  
• Break above would extend gains till 0.7450/0.7500 in short term.
  
  
• On the downside minor support is around 0.7340 and break below targets 0.7300/0.7250 in short term.
  
  
• It has formed temporary bottom around 0.7250 and any further weakness can be seen only below that level

It is good to buy around 0.7380 with SL around 0.7340 for the TP of 0.7490.

Resistance

R1- 0.7410

R2-0.7450

R3- 0.7500

Support

S1-0.7340

S2-0.7300

S3-0.7250