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FxWirePro: AUD/USD rejected at 0.7153, underlying bias remains lower

AUD/USD off from day's highs but remains in positive territory despite broad based USD strength The pair could see further corrective rebounds but underlying bias remains lower It remains to be seen if AUD resilience las…

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AUD/USD off from day's highs but remains in positive territory despite broad based USD strength 

  • The pair could see further corrective rebounds but underlying bias remains lower
  • It remains to be seen if AUD resilience lasts ahead in the day, since China's rate cut has had little positive effect on the metal prices
  • AUD/USD is curently trading at 0.7140, with immediate resistance at day's high at 0.7153, and then at 0.7221 (DailyTenkan-Sen)
  • Supports on the downside are seen at 0.7097 (Hourly Low Aug 26) followed by 0.7044 (Daily Low Aug 24)

Resistance Levels:

R1: 0.7250 (Daily High Aug 25)
R2: 0.7285 (Aug 20-21 Lows)
R3: 0.7286 (10 DMA)

Support Levels:

S1: 0.7097 (Hourly Low Aug 26)
S2: 0.7044 (Daily Low Aug 24)
S3: 0.6990 (Daily Low Apr 28 2009)

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