Fxwirepro: Aussie Faces Short Term Resistance Around 0.7400, Good to Buy at Dips

• RES 4: 0.7500
• RES 3: 0.7495 (Jul 13^th high)
• RES 2: 0.7436 (Jul 16^th high)
• RES 1: 0.7380 ( 20 day 4 H EMA)

      PRICE: 0.73705 @ 11:06 GMT 

• SUP 1: 0.7370 (Jul 8^th low)

• SUP 2: 0.7326

• SUP 3: 0.7297 (161.8% retracement of 0.7371 and 0.74906)
• SUP 4: 0.7283 (161.8% retracement of 0.73256 and 0.7396)

Commentary:

AUD/USD has made a low of 0.7325 in the Asian session and recovered from that level till 0.73950. Short term trend is bullish as long as support 0.73350 holds

On the higher side minor resistance is around 0.7400 and break below will target 0.7435/0.7480.

Overall bearish invalidation only if it closes above 0.7500.

It is good to buy at dips around 0.7360 with SL around 0.7330 for the TP of  0.7435

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