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Long

Long AUD/USD on 21-EMA break and bullish divergence

FX:AUDUSD   Australian Dollar / U.S. Dollar
The pair has broken above 21-EMA resistance and we see scope for further upside.
The major failed to extend weakness below 61.8% Fib at 0.7327, bullish divergence on RSI and Stochs keeps scope for upside in the pair.
Technical indicators on daily charts have turned bullish . Stochs and RSI biased higher. MACD and DMI are showing bullish crossover.
Break above stiff resistance at 21-EMA at 0.7431 now eyes 55-EMA at 0.7510. Break out there could see further upside.
On the flipside, we see weakness to resume on retrace below 5-DMA support at 0.7408.

Support levels - 0.7431 (21-EMA), 0.7408 (5-DMA), 0.7327 (61.8% Fib), 0.73
Resistance levels - 0.7505 (23.6% Fib), 0.7510 (55-EMA), 0.7567 (May 11 high)

Good to go long on dips around 0.7450, SL: 0.74, TP: 0.7510/ 0.7565

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