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AUD/USD Beats Resistance At 7680/85

Published 04/09/2015, 04:11 AM
Updated 07/09/2023, 06:31 AM
AUD/USD
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AUD/USD Chart

AUD/USD first resistance at 7685/90 is key to direction. Try shorts again today with stops above 7705. Be ready to go with a break higher however to target the next resistance at 7730/35. Further gains are unlikely but would target strong resistance at 7775/80 for a selling opportunity with stops above 7800.

Failure to beat first resistance at 7685/90 triggers a move to to 7655 then first support at 7625/20. If trying longs we need stops below 7605. A break lower sees 7620/25 act as resistance to target this weeks low at 7575/70. Failure here however risks a retest of March lows at 7558 before last week's low at 7530. Obviously a break below here is more negative and indicates the start of the next leg lower to target 7500 initially then 7440/35.

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