- The resistance level at 0.7350 is likely to hold the Aussie bulls and push the pair downwards, therefore short rally near 0.7300 should be taken as advantage for selling opportunities.
- To the upside, the immediate resistance can be seen 0.7280, A break above this level would take it to next resistance level at 0.7295 (61.8% Retracement level) ,To the downside, the first support level lies at 0.7260.
Recommendation: Go short below 0.7300, targets 0.7240, 0.7200, SL 0.7370
R1: 0.7280(July 29th lows)
R2: 0.7295(61.8% Retracement level)
R3: 0.7320 (July 29th high)
S1: 0.7260 (38.2% Retracement level)
S2: 0.7240 (23.6% Retracement level)
The material has been provided by InstaForex Company – www.instaforex.com