FxWirePro: AUD/USD edges lower from sesison highs at 0.7177, good to buy dips

AUD/USD continues to tread on firmer ground, despite cautionary rhetoric by the RBA.

• The pair is extending recovery from below 0.6990 and lows of 0.6983 (Feb 11th) in the recent sell-off.
   
• AUD/USD has strong support at 0.7117 (converged 5 and 10 DMA), breaks below could take the pair to 0.7063.
   
• 0.7156 (cloud top) is immediate resistance on the upside ahead of 0.7210 (falling trendline).
   
• Technicals indicate further upside in the pair, breaks above 0.7210 could see further momentum to 0.7240 and then 0.73 levels.
   

Recommendation: Good to buy dips around 0.7140, SL: 0.71, TP: 0.7180/0.7210