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)
