AUD/USD struggles to break below 0.7400, jump till 0.7500 is likely

• RES 4 : 0.7532 (Jul 6^th high)
  
  
• RES 3: 0.7500
  
  
• RES 2: 0.7470 (Jul 13^th high)
  
  
• RES 1: 0.7421 ( 7 day 4 H EMA)

      PRICE: 0.74311 @ 10:58 GMT 

• SUP 1: 0.7400
  
  
• SUP 2: 0.7370 (Jul 8^th low)

• SUP 3: 0.7326

• SUP 4: 0.7297 (161.8% retracement of 0.7371 and 0.74906)

Commentary:

AUD/USD slightly recovered from low of 0.7412 on account of better than expected business confidence.

NAB sentiment index advanced to 10 from 8 in May as companies turned positive in all industries bar mining.

Technically Aussie is facing strong support around0.7400 and any break below will target 0.73700/0.7340 level.

On the higher minor resistance is around 0.7435 and any break above will target 0.7470/0.7500.

Overall trend reversal only above 0.7500

It is good to buy at dips around 0.7425 with SL around 0.7400 for the TP of 0.7470/0.7498