FxWirePro: AUD/USD key resistance at 0.7260, sell deals are recommended around 0.7250
AUD/USD has rebounded towards 0.7245 earlier in European session, but slipped to trade around 0.7225 levels after US session opened. The pair has struggled to break strong resistance located at 0.7260 level indicating th…
AUD/USD has rebounded towards 0.7245 earlier in European session, but slipped to trade around 0.7225 levels after US session opened. The pair has struggled to break strong resistance located at 0.7260 level indicating the Aussie has ran out of strength against US dollar, therefore it's good to sell this pair on rallies.
The resistance level at 0.7260 (61.8% Retracement level)is likely to hold the Aussie bulls for any further advance and push the pair downwards, therefore short rally near 0.7260 should be taken as advantage for selling opportunities.
Immediate resistance can be seen at 0.7244 (50% Retracement level), a break above this level would take it to next resistance level at 0.7260, to the downside, the immediate support level lies at 0.7211.
Recommendation: Go short below 0.7250, targets 0.7180, 0.7150, SL 0.7280
