AUD/USD: Holding Resistance At 7470/80
Jason Sen | May 23, 2017 06:02AM ET
AUD/USD holding resistance at 7470/80 as expected to target 7465 then first support at 7452/48 but the best support for today is at 7430/25 and could mark a low for the day. However the daily trend is negative so eventually we could resume that trend. If you try longs use stops below 7410 but be aware that a break lower is a sell signal targeting 7390 and 7365 before the 7330/26 low.
A break above 7500 however is a short term buy signal despite overbought conditions and sees 7490/85 act as support targeting 7535/45 and perhaps as far as 7580/90.
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