AUDUSD same levels apply for today & again holding below 7355/50 sees a test of first support at 7310/05. Buying is risky with further losses possible
AUD/USD Spot Daily Forecast - 07 August 2015AUDUSD same levels apply for today & again holding below 7355/50 sees a test of first support at 7310/05. Buying is risky with further losses possible so if trying longs use stops at 7285. Target1@ 7330, T2@7350 then 7375. A break lower targets 7260/57 with risks of a retest of 7235/32 lows. A break lower this week not out of the question & risks a slide towards significant longer term support at 7185/80 for an excellent buying opportunity.
Above minor resistance at 7250/55 targets stronger resistance at 7380/85. We should struggle here again today but shorts need stops above 7400. Be ready to buy a break above 7400 to target 7415/20. A break above 7430 then meets strong resistance at 7450/60 for a selling opportunity, with stops at 7490.
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