FxWirePro: AUD/USD key support at 0.7140, upside prevails in the short term

>AUD/USD pair has made a short pullback to test 61.8% fib retracement level at 0.7141. Currently the pair is making an attempt to rebound back towards 0.7185 levels. Australian dollar is set to reach higher level, as the pair is supported strongly around 0.7140 levels and the price action is already started to recover towards higher levels. Therefore, it's good to buy this pair above 0.7140 levels.

>To the upside, the strong resistance can be seen at 0.7185, a break above this level would take the pair towards next resistance level at 0.7215 (23.6% Retracement level).

>To the downside immediate support can be seen at 0.7141 (61.8 % Retracement level), a break below this level will open the gates towards next level at 0.7114 (Sep 14th lows).

Recommendation: Go long above 0.7141, targets 0.7200, 0.7240, 0.7080

Resistance Levels

R1: 0.7162 (50% Retracement level)

R2: 0.7185 (38.2% Retracement level)

R3: 0.7215 (23.6% Retracement level)

Support Levels

S1: 0.7141 (61.8 % Retracement level)

S2: 0.7114 (Sep 14th lows)

S3: 0.7084 (Sep 15th lows)