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Long

Long AUD/USD on breaks above 0.7250, target

FX:AUDUSD   Australian Dollar/U.S. Dollar
304 0 8
AUD/USD             has broken strong resistance at 0.72 levels, upside on the day seen capped at 0.7243.

The pair faces strong resistance at 0.7245-0.7250 levels, breaks above 0.7250 could take the pair higher to 0.7283 and then 0.7330 levels.

We see a bullish 5 and 10 DMA crossover, price action is well above the cloud and momentum indicators are biased higher.

Immediate support on the downside is seen at 0.7153 (Feb 4th lows), ahead of 0.7132 (Jan 5th lows).

Good to go long on breaks above 0.7250, SL: 0.72, TP: /0.73/0.7330
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