- RES 4 : 0.7350 (Jul 29th high)
- RES 3: 0.7328 (200 day HMA)
- RES 2 : 0.7273 (55 day H EMA)
- RES 1: 0.7271 (7 day H EMA)
PRICE: 0.7266@ 11:30 GMT
- SUP 1: 0.7250 (161.8% retracement of 0.73266 and 0.74484)
- SUP2: 0.7193 (61.8% projection of 0.7848 to 0.73266 from 0.7448)
- SUP 4: 0.7158 (100% projection of 0.7256 and 0.7488 from 0.73499)
- SUP 4 : 0.7100
Candlestick pattern - Shooting Star
Short term Trend- Bearish
AUD/USD has made a high of 0.7365 and retreated from that level. Overall trend is still weak as long as resistance 0.7360 holds.
Aussie struggling to hold around 0.730 with trend pointing downward ahead of RBA policy's decision on Tuesday and a series of economic indicators to be released this week.
On the downside minor support is around 0.7290 and any break below will drag the pair further down till 0.7250/0.7230 in short term.
The pair's break above 0.7360 would extend gains till 0.7400/0.7435.
It is good to sell on rallies around 0.7310 with SL around 0.7360 for the TP of 0.7255/0.7230.
