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AUD/USD remained largely muted on as expected RBA decision, statement almost identical to last months'
- AUD/USD last at 0.7141 after trading at 0.7140 just prior, focus now turns to Wednesday's GDP release
- Long term momentum is bearish, pair likely to find tough resistance on the 0.72 handle
- Price action rejected on hourlies at 0.7153, Stochs show bearish crossover
- AUD/USD is currently trading at 0.7138, with immediate resistance at 0.7153 (Session High Sept 1), followed by 0.7177 (Session High Aug 31)
- Supports on the downside are located at 0.7126 (hourly Tenkan) and then at 0.7082 (Session low August 31)
Recommendation: Good to sell rallies at 0.7150, SL: 0.7210, TP1: 0.7100, TP2: 0.7080
Resistance Levels:
R1: 0.7177 (Session High Aug 31)
R2: 0.7206 (Daily High Aug 28)
R3: 0.7221 (10-Day MA)
Support levels:
S1: 0.7082 (Session low August 31)
S2: 0.7070 (Daily Low Aug 26)
S3: 0.7044 (Daily Low Aug 24)
