FxWirePro: AUD/USD on track to take out 0.77, broadly weak Greenback and commodities' recovery supports
Significant gains in commodities and a broadly weak Greenback supports upside in AUD/USD. The pair has hit session highs at 0.7680, breaking above resistance at 0.7648 (Double top Apr 14th and July 3rd). The pair has edg…
Significant gains in commodities and a broadly weak Greenback supports upside in AUD/USD.
The pair has hit session highs at 0.7680, breaking above resistance at 0.7648 (Double top Apr 14th and July 3rd).
The pair has edged slightly lower to currently trade around 0.7652, momentum still with the bulls, gains upto 0.7724 (rising channel top resistance) likely.
Immediate resistance and supports are located at 0.7724 (rising channel top) and 0.7639 (4h 5-DMA) respectively.
Our previous call - (http://www.econotimes.com/FxWirePro-AUD-USD-breaks-above-076-barrier-good-to-buy-dips-180255) has hit targets 1 and 2.
We advise booking partial profits, raise trailing stops to 0.7560, target: 0.77/0.7724
