Fxwirepro: Aussie Faces Strong Resistance Around 0.7250, Good to Sell on Rallies

  • RES 4: 0.7330 (200 day  4 HMA)
  • RES 3: 0.7250 (Aug 25th high)
  • RES 2: 0.7162 ( Tenken-Sen)
  • RES 1: 0.7141(20 day 4 HMA)

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  • SUP  1: 0.7130 (7 day 4 H EMA)
  • SUP 2: 0.70913 (161.8% retracement of  0.721 and 0.74097)
  • SUP 3: 0.7030 (Aug 24th low)
  • SUP 4: 0.7000

AUD/USD has recovered till 0.7248 and declined from that level till 0.7068. It is currently trading at 0. trend is still weak as long as resistance 0.7250 holds.

Technically Aussie short term resistance is at 0.7250 and any break above target 0.7300/0.7330.

On the lower side minor support is around 0.7090 and breaks below drag the pair down till 0.7060/0.7030.

Bearish invalidation only above 0.7250

It is good to sell on rallies around 0.7190 with SL around 0.7250 for the TP of 0.7090/0.7030

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

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