- The resistance level at 0.7350 is likely to hold the Aussie bulls and push the pair downwards, therefore short rally near 0.7325 should be taken as advantage for selling opportunities.
- To the upside, the immediate resistance can be seen at 0.7350 (July 29th highs), A break above this level would take it to next resistance level at 0.7364 (July 31st high), to the downside, the first support level lies at 0.7325 (July 27th high).
Recommendation: Go short below 0.7325, targets 0.7270, 0.7240, SL 0.7380
R1: 0.7350 (July 29th highs)
R2: 0.7364 (July 31st high)
R3: 0.7393 (July 23rd high)
S1: 0.7325 (July 27th high)
S2: 0.7302 (61.8% Retracement level)
S3: 0.7280 (July 29th lows)
The material has been provided by InstaForex Company – www.instaforex.com