FxWirePro:AUD/USD consolidates in narrow range, good to buy at dips

• RES 4 : 0.7532 (Jul 6^th high)
  
  
• RES 3: 0.7500
  
  
• RES 2: 0.7470 (Jul 13^th high)
  
  
• RES 1: 0.7451 ( 7 day 4 H EMA)

      PRICE: 0.74311 @ 10:58 GMT 

• SUP 1: 0.7400
  
  
• SUP 2: 0.7370 (Jul 8^th low)

• SUP 3: 0.7326

• SUP 4: 0.7297 (161.8% retracement of 0.7371 and 0.74906)

Commentary:

AUD/USD has jumped slightly till 0.74878 after release of positive Chinese data.

Chinese economy grown at 7% in the second quarter compared to year ago and its industrial output also beats forecast, up 6.8% in June from previous year.

Technically Aussie is trading in tight range between 0.740-0.750 and any reversal can be seen only if it breaks above below this level.

The minor support is around 0.7430 and break below will target 0.7400/0.7370.

Overall slight bullishness can be seen only above 0.7500 and break above would extend gains till 0.7535/0.7600.

It is good to buy at dips around 0.7450 with SL around 0.7430 for the TP of 0.7500/0.7535