Fxwirepro: Aussie Retreats After Making a High of 0.7445, Good to Buy at Dips.

• RES 4: 0.7530 ( Jul 6^th 2015)

• RES 3: 0.7500
• RES 2: 0.7480 (Jul 13^th high)
• RES 1: 0.7436 (Jul 16^th high)

      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:

Intraday trend- Bullish

Short term trend – Bearish

AUD/USD has made a high of 0.74484 and declined till 0.7370 today. Overall trend is bullish as long as support 0.7365 holds.

On the higher side short term resistance is around 0.7450 and break above would extend gains till 0.7480/0.7500.

Overall trend reversal can happen only if it closes above 0.7500 level.

Aussie support is at 0.7365 and below that level will take to next target 0.7330/0.7320.

It is good to buy at dips around 0.7400 with SL around 0.7365 for TP of 0.7450/0.7495.

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