theforexportal

AUDUSD at well-established support - will we bounce?

FX:AUDUSD   Australian Dollar / U.S. Dollar
The stiff resistance at .7732 area remains intact and whilst we remain under this level we should be looking to SHORT this pair. However from these levels (.7500) with RSI over sold and solid support beneath, AUD may attempt to recover.
This looks quite an easy trade so if .7490 remains in tact and we see price move north we can look to BUY this pair from current levels with a STOP under .7490.
Should, however, price slip below .7490 then look to SELL down to .73 area.