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FxWirePro: AUD/USD holds strong trendline support at 0.7653, good to go long on dips

Reserve Bank of Australia minutes released earlier today failed to provide any indication of future interest rate moves. Australian dollar has dipped slightly after the minutes, but has recovered from session lows at 0.7…

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FxWirePro: AUD/USD holds strong trendline support at 0.7653, good to go long on dips
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  • Reserve Bank of Australia minutes released earlier today failed to provide any indication of future interest rate moves.
     
  • Australian dollar has dipped slightly after the minutes, but has recovered from session lows at 0.7653 and is currently trading at 0.7684 levels.
     
  • Techs support upside in the pair, Stochs and RSI are biased higher. 
     
  • The pair is currently struggling at 4H 20 MA at 0.7682, break above could see upside upto 0.7725.
     
  • Immediate support is seen at 0.7673 (1H 20 SMA), then 0.7653 (session low) and 0.7583 (20-day MA).
    ​

Recommendation: Good to go long on dips around 0.7660/70, SL: 0.7620, TP: 0.77/ 0.7725
 

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