AUD/USD - Nearing Major Resistance In 0.7380 - 0.7345 Zone
For Educational Purposes Only.
Price is approaching major resistance up near 0.7380 - 0.7345-50 area. If weakness is shown in this area, I would look to Sell on either a counter trend trade back down towards 0.7215 from current levels with the stop just above previous high near 0.7345 or, a more longer term trade with a sell back down towards 0.7155 from current levels with a more wider stop possibly several pips above 0.7380.
AUD is at a major resistance on the Futures contracts and the US Dollar is looking quite buoyant.
Mood: Bearish.
Price is approaching major resistance up near 0.7380 - 0.7345-50 area. If weakness is shown in this area, I would look to Sell on either a counter trend trade back down towards 0.7215 from current levels with the stop just above previous high near 0.7345 or, a more longer term trade with a sell back down towards 0.7155 from current levels with a more wider stop possibly several pips above 0.7380.
AUD is at a major resistance on the Futures contracts and the US Dollar is looking quite buoyant.
Mood: Bearish.
