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

By Jason Sen ForexJan 10, 2017 06:35AM ET

www.investing.com/analysis/audusd-daily-forecast---10-january-2017-200172006

By Jason Sen | Jan 10, 2017 06:35AM ET

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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.

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