FxWirePro: AUD/USD approching key resistance at 0.7696, sell deals are recommended below 0.7720

• AUD/USD bounced back from 0.7640 level and testing 0.7696 (23.6% Retracement Level). Currently it's resuming upwards to test strong resistance level at 0.7730.

• The pair is currently trading around 0.7690 level. It is expected decline further towards 0.7640 and later 0.7600.

• Short rally around 0.7720 should be taken as advantage for selling opportunities, As AUD dollar is weak against the US dollar in the short term.

• To the upside, the strong resistance sits near 0.7730, A break above this level would take it to upside to next resistance level at 0. the downside support level sits at 0.7674(38.2% Retracement level) a break below will take the cable to 0.7640 (61.8 Retracement level).

Recommendation: Go short below 0.7720, targets 0.7650, 0.7620, SL 0.7770

Resistance Levels

R1: 0.7711             

R2: 0.7733

R3: 0.7753

Support Levels

S1: 0.7674(38.2% Retracement level)

S2: 0.7660           

S3: 0.7640(61.8 Retracement level)