Fxwirepro: Aud/usd Key Resistance at 0.7250, Bearish in the Short Term

  • The currency pair is trading at 0.7147 levels, it is expected to decline further towards 0.7100 and 0.7070 levels in the short term, as the US Dollar is stronger against Aussie.
  • To the upside, the immediate resistance can be seen at 0.7156 (50% Retracement level), a break above this level would take the pair towards next resistance level at 0.7183 (61.8% Retracement level), to the downside, the immediate support level lies 0.7127.                              

Recommendation: Go short below 0.7180, targets 0.7130, 0.7070, SL 0.7270

Resistance Levels

R1: 0.7156 (50% Retracement level)

R2: 0.7183 (61.8% Retracement level)

R3: 0.7250 (Aug 25th highs)

Support Levels

S1: 0.7127(38.2% Retracement level)

S2: 0.7095(23.6% Retracement level)

S3: 0.7068 (Aug 26th lows)

The material has been provided by InstaForex Company – www.instaforex.com