Fxwirepro: Aussie Retreats from Higher Levels , Good to Buy at Dips

• RES 4 : 0.7495 ( Jul 10^th high)

• RES 3: 0.7450 (Jul 21^st high)
• RES 2: 0.74275 (Aug 4^th high)
• RES 1: 0.7380 (trend line joining 0.8163 and 0.7848))

      PRICE: 0.7355 @10:51 GMT 

• SUP 1: 0.7350 (20 day MA)
• SUP 2: 0.7315 (Aug 6^th low)

• 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)

AUD/USD has broken trend line resistance around 0.7380 and trades well above that level. It confirms short term bullishness, jump till 0.7500 cannot be ruled out.

On the upside minor resistance is around 0.7430 and any break above would extend gains 0.7450/0.7490.

The pair’s minor support is around 0.7350 and any break below will drag the pair further down till 0.7300/0.7250.

Major intraday support -0.7350 and intraday resistance 0.7435.

It is good to buy at dips around 0.7350 with SL around 0.7300 for the TP of 0.7445/0.7490.

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