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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
