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Long

Aussie trades in tight range between 0.74-.75,good to buy at dip

FX:AUDUSD   Australian Dollar/U.S. Dollar
329 1 10
AUD/USD             has jumped slightly till 0.74878 after release of positive Chinese data.

Chinese economy grown at 7% in the second quarter compared to year ago and its industrial output also beats forecast, up 6.8% in June from previous year.

Technically Aussie is trading in tight range between 0.740-0.750 and any reversal can be seen only if it breaks above below this level.

The minor support is around 0.7430 and break below will target 0.7400/0.7370.

Overall slight bullishness can be seen only above 0.7500 and break above would extend gains till 0.7535/0.7600.

It is good to buy at dips around 0.7450 with SL around 0.7430 for the TP of 0.7500/0.7535
buy now
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