- RES 4: 0.7450 ( Jul 21st 2015)
- RES 3: 0.7411 (Cloud bottom)
- RES 2: 0.7371 (20 day 4 HMA)
- RES 1: 0.7322 (7 day 4 H EMA)
PRICE: 0.72745 @ 11:26 GMT
- SUP 1: 0.7283 (161.8% retracement of 0.73256 and 0.7396)
- SUP 2: 0.7250 (161.8% retracement of 0.73266 and 0.74484)
- SUP 3: 0.7193 (61.8% projection of 0.7848 to 0.73266 from 0.7448)
- SUP 4: 0.7180
Aussie has broken trend line support (trend line joining 0.73712 and 0.73266) and is trading slightly below that level.
Overall trend is weak as long as resistance 0.7400 holds and slight bullishness can be seen if it closes above 0.7400.
Any break of 0.7400 will target 0.7450/0.7500. Overall bearish invalidation only above 0.7500.
On the downside any break below 0.73266 will drag the pair further down till 0.7250/0.7193 in short term.
It is good to sell on rallies around 0.7300 with SL around 0.7350 for the TP of 0.7255/0.7195.
The material has been provided by InstaForex Company – www.instaforex.com