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- The Aussie continued to add further gains and made new intraday high at $0.7218 levels.
- Pair is currently trading at $0.7207 levels, made intraday low at $0.7153 levels.
- On the other side, heavy USD sell-off across the board provided solid support for commodities.
- A daily close above $0.7214 is required to confirm the further bullish trend.
- On the top side resistance levels are seen at $0.7324 and $0.7385 levels.
- Alternatively, reversal from this level may drag the parity again below $0.7100 levels.
- Major support levels are seen at $0.7119 and $0.7050 levels.
- Tomorrow RBA will publish monetary policy statement and retail sales data. This will provide further direction to the parity.
We prefer to take long position in AUD/USD around $0.7150, stop loss $0.7050 and target $0.7325 levels.
