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FxWirePro: AUD/USD hits new 2-week highs at 0.7710, bias higher, stay long

AUD/USD takes out 0.77 handle post-OPEC deal, hits new 2-week highs at 0.7710. Some profit booking seen at highs. Pair slips below the 0.77 handle. Intraday bias still higher, strong trendline support at 0.7660, weakness…

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FxWirePro: AUD/USD hits new 2-week highs at 0.7710, bias higher, stay long
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  • AUD/USD takes out 0.77 handle post-OPEC deal, hits new 2-week highs at 0.7710. 
     
  • Some profit booking seen at highs. Pair slips below the 0.77 handle.
     
  • Intraday bias still higher, strong trendline support at 0.7660, weakness only on break below.
     
  • Major support levels - 0.7681 (1H 20-MA), 0.7660 (trendline), 0.7645 (Session low Sept 28)
     
  • Major resistance levels - 0.7710 (trendline), 0.7723 (88.6% Fib), 0.7732 (Sept 8 high)
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-breaks-major-trendline-resistance-at-07655-good-to-long-dips-319151) has hit TP1&2
    ​

Recommendation: Book partial profits, raise trailing stop to 0.7660, hold for upside
 

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Major Pair Currency Score: AUDUSD Bearish

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