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Aussie breaks short term support 0.7670, decline till 0.7590 is possible

RES 4: 0.7817 (Jun 3rd high) RES 3: 0.7780(Jun 15th high) RES 2: 0.7767 (Jun 11th high) RES 1 : 0.7735 (20 day 4HMA) PRICE: 0.7672 @ 10:55 GMT SUP 1: 0.7670 (Jun 12th low) SUP 2: 0.7630 SUP 3: 0.7590 (Jun 5th low) SUP 4 …

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  • RES 4: 0.7817 (Jun 3rd high)

  • RES 3: 0.7780(Jun 15th high)

  • RES 2: 0.7767 (Jun 11th high)

  • RES 1 : 0.7735 (20 day 4HMA)

      PRICE: 0.7672  @ 10:55 GMT 

  • SUP 1: 0.7670 (Jun 12th low)

  • SUP 2: 0.7630
  • SUP 3: 0.7590 (Jun 5th low)
  • SUP 4 :0.7530 (Apr 2nd low)

Commentary:

Aussie has broken short term support  around 0.7670 and this confirms short tter mweakness, a decline till 0.7590 is possible.

On the upside minor resistance is around 0.7730 and break above would extend gains till 0.7760/0.7790.

It is good to sell on rallies around 0.7690 with SL around 0.7730 for the TP of 0.7590.

 

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