FxWirePro: AUD/USD key resistance at 0.7325, sell deals are recommended below 0.7300

 

• AUD/USD failed to break key resistance at 0.7350 and pair weakened after hawkish Fed's meet yesterday. The pair is currently trading around 0.7273 levels. It is expected decline further towards 0.7240 and later 0.7200 in the short term.

• The resistance level at 0.7350 is likely to hold the Aussie bulls and push the pair downwards, therefore short rally near 0.7300 should be taken as advantage for selling opportunities.

• To the upside, the immediate  resistance can be seen 0.7280, A break above this level would take it  to next resistance level at 0.7295 (61.8% Retracement level) ,To the downside, the first support level lies at 0.7260.                        

Recommendation: Go short below 0.7300, targets 0.7240, 0.7200, SL 0.7370

Resistance Levels

R1: 0.7280(July 29^th lows)                             

R2: 0.7295(61.8% Retracement level)

R3: 0.7320 (July 29^th high)

Support Levels

S1: 0.7260 (38.2% Retracement level)

S2: 0.7240 (23.6% Retracement level)    

S3: 0.7207