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FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
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WTI crude was trading after the US-Iran conflict and jumped more than $4 till $64.69. It hits 8- month high yesterday and lost more than 3.5% on slight easing of Middle East tension. It is currently trading around $62.68.
On the flip side, major support is at $61.92-$62.17 (40 4H MA and 55 4H EMA) any violation beneath will drag the commodity to the next level $61.45/$60.61. Extraordinary weakness only under $59.25.
The near term resistance stands at $64.72 and a breakthrough target next level 66.57 mark (Apr 2019 high). Significant trend continuation only above $66.57.
It is good to buy on dips around $62.35-40 with SL around $61.90 for the TP of $64.65.
