FxWirePro: AUD/USD breaks resistance at 0.7721, sell deals are recommended below 0.7760

• AUD/USD fell back from 0.7732 level and tested 0.7692 level (38.2% Retracement Level). Currently it's resuming upwards to test 0.7750 level (61.8% Retracement level)

• The pair is currently trading around 0.7740- 0.7732 level. It is expected decline further towards 0.7700 and later 0.7650.

• Short rally around 0.7750- 0.7760 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 0.7787, A break above this level would take it to upside to next resistance level at 0.7813.

Recommendation: Go short below 0.7760, targets 0.7720, 0.7680, SL 0.7790

Resistance Levels

R1: 0.7750 (61.8% Retracement level)                    

R2: 0.7770

R3: 0.7787

Support Levels

S1: 0.7721(50% Retracement level)

S2: 0.7704           

S3: 0.7692 (38.2% Retracement level)