- RES 4: 0.7548 (55 day 4H EMA)
- RES 3 : 0.7532 (Jul 6th high)
- RES 2: 0.7500
- RES 1: 0.7438 ( 7 day 4 H EMA)
PRICE: 0.7430@ 12:01 GMT
- SUP 1: 0.7430 (20 day 4 HMA)
- SUP 2: 0.7370 (Jul 8th low)
- SUP 3: 0.7326
- SUP 4: 0.7297 (161.8% retracement of 0.7371 and 0.74906)
Commentary:
AUD/USD has made an intraday high of 0.7465 and declined till 0.7420. Overall trend is weak as long as resistance 0.7500 holds.
On the higher side any break above 0.7500 would extend gains till 0.7535/0.7550.
The minor resistance is around 0.7438 and any break above will target 0.7470.
The minor support is around 0.7400 and break below will drag the pair further down till 0.7370/0.7340.
Overall trend reversal only above 0.7500
It is good to sell on rallies around 0.7460 with SL around 0.7500 for the TP of 0.7370/0.7340
