Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

AUD/USD Bounced From 7340/50 After The Top At 7373

Published 01/10/2017, 06:35 AM
Updated 07/09/2023, 06:31 AM

AUD/USD Weekly Chart

AUD/USD bounced from 7340/50 after the top at 7373 with a recovery this morning we look for a test of that important longer term resistance at 7380/90 for an excellent selling opportunity.

**A high for the recovery is expected here.** Try shorts with stops above 7430. The longer term bear trend should resume from here.**

However, a sustained break above 7410 means the important resistance has been broken. This is a short term buy signal targeting 7440/45 then 7460/65. Below 7340 is more negative and targets quite good support at 7325/20. Below 7300 risks a slide to 7260/55.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.