- RES 4: 0.7450 (Jul 21st high)
- RES 3: 0.74275 (Aug 4th high)
- RES 2 : 0.7370 (Tenken-Sen)
- RES 1: 0.7340 (20 day 4H MA)
PRICE: 0.7327 11:48 GMT
- SUP 1: 0.7250 (161.8% retracement of 0.73266 and 0.74484)
- SUP2: 0.7193 (61.8% projection of 0.7848 to 0.73266 from 0.7448)
- SUP 4: 0.7158 (100% projection of 0.7256 and 0.7488 from 0.73499)
- SUP 4 : 0.7100
Aussie recovered till 0.74275 and has retreated from that level. Overall trend is weak as long as resistance 0.7435 holds.
On the higher side any break above 0.7435 would extend gains till 0.7475/0.7500 in short term.
Overall bearish invalidation only above 0.7500 level.
The pair’s short term support is around 0.7325 and indicative break below will target 0.7280/0.7250/0.7230.
It is good to sell on rallies around 0.7350 with SL around 0.7405 for the TP of 0.7250/0.7230.
The material has been provided by InstaForex Company – www.instaforex.com