AUD/USD finds strong support at 0.7386, good to long dips
AUD ignored weak Q3 construction work data is currently trading at 0.7433, 0.49% higher on the day.
Technicals suggest upside in the pair,
We see major support at 0.7386 (converged 78.6% Fib and 5-DMA). Break below could see reversal.
Major support levels - 0.74, 0.7386 (5-DMA & 61.8% Fib), 0.7311 (Nov 21 low), 0.7280 (78.6% Fib)
Major resistance levels - 0.7461 (50% Fib), 0.7467 (10-DMA), 0.75, 0.7517 (200-DMA)
Good to go long on dips around 0.7415/25, SL: 0.7360, TP: 0.7460/ 0.75/ 0.7515.
Technicals suggest upside in the pair,
We see major support at 0.7386 (converged 78.6% Fib and 5-DMA). Break below could see reversal.
Major support levels - 0.74, 0.7386 (5-DMA & 61.8% Fib), 0.7311 (Nov 21 low), 0.7280 (78.6% Fib)
Major resistance levels - 0.7461 (50% Fib), 0.7467 (10-DMA), 0.75, 0.7517 (200-DMA)
Good to go long on dips around 0.7415/25, SL: 0.7360, TP: 0.7460/ 0.75/ 0.7515.
Comment:
TP1 achieved