Aussie Struggles to Close Above 0.7400, Decline Till 0.7250 Cannot be ruled Out

• RES 4: 0.7450 (Jul 21^st high)
• RES 3: 0.74275 (Aug 4^th high)
• RES 2: 0.7410 (200 day 4HMA)
• RES 1: 0.7347 (20 day 4 HMA)

      PRICE: 0.73375 @11:52 GMT 

• SUP 1: 0.7315 (Aug 6^th low)

• 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

AUD/USD has made a high of 0.7407 and declined from that level. Overall trend is still weak as long as resistance 0.7450 holds.

Technically Aussie has broken short term support 0.7350 which confirms short term weakness, a decline till 0.72500 cannot be ruled out.

On the higher minor resistance is around 0.7410 and break above targets 0.7445/0.7490.

Bearish invalidation only above 0.7450

It is good to sell on rallies around 0.7380 with SL around 0.7425 for the TP of 0.7250/0.7230

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