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FxWirePro: AUD/USD upside halts at major trendline resistance at 0.7636, focus on RBA cash rate announcement

  • AUD/USD rally in response to upbeat Australian economic releases halts at stiff trendline resistance at 0.7636.
     
  • The immediate focus now remains on the RBA cash rate announcement due out shortly.
     
  • The pair has broken 20-DMA at 0.7615 and Techs are heavily bullish.
     
  • Major support levels - 0.7615 (20-DMA), 0.76, 0.7581 (session low).
     
  • Major resistance levels - 0.7636 (trendline), 0.7655 (Aug 23 high), 0.7691 (Aug 15 high).

Recommendation: Go long on break above 0.7636, SL: 0.7610, TP: 0.7690/ 0.77
 

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