Search
Products
Community
Markets
News
Brokers
More
IN
Get started
Community
/
Ideas
/
AUD/USD breaks minor resistance at 0.7230, good to buy dips
Australian Dollar / U.S. Dollar
Long
AUD/USD breaks minor resistance at 0.7230, good to buy dips
By FxWirePro
Follow
Follow
May 23, 2016
4
Cheer
Cheer
May 23, 2016
AUD/USD is currently trading around 0.7250 levels, intraday bias is higher.
After a brief dip below 61.8% Fib at 0.7212 on May 19th, the pair has pulled back above.
On the 2-hourly charts, the pair has broken minor resistance at 0.7230, we see scope for gains upto 0.7290.
Immediate resistance is located at 0.7249 (5-DMA), break above will next next hurdle at 0.7280 and then 0.7286 (10-DMA).
Supports on the downside are seen at 0.7225 (trendline), 0.7212 (61.8% Fib) and then 0.72 levels.
Break above 0.73 could take the pair to 0.7360 levels. Weakness to resume on break below 0.7210.
Good to buy dips around 0.7240/50, SL: 0.7210, TP: 0.7280/0.73/0.7360
aud
AUDUSD
USD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.