AUD/USD has broken strong resistance at 0.72 levels, upside on the day seen capped at 0.7243.
- The pair faces strong resistance at 0.7245-0.7250 levels, breaks above 0.7250 could take the pair higher to 0.7283 and then 0.7330 levels.
- We see a bullish 5 and 10 DMA crossover, price action is well above the cloud and momentum indicators are biased higher.
- Immediate support on the downside is seen at 0.7153 (Feb 4th lows), ahead of 0.7132 (Jan 5th lows).
Recommendation: Good to go long on breaks above 0.7250, SL: 0.72, TP: 0.7283/0.73/0.7330
