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Long

AUD/USD breaks minor resistance at 0.7230, good to buy dips

FX:AUDUSD   Australian Dollar/U.S. Dollar
158 0 4
AUD/USD             is currently trading around 0.7250 levels, intraday bias is higher.

After a brief dip below 61.8% Fib at 0.7212 on May 19th, the pair has pulled back above.

On the 2-hourly charts, the pair has broken minor resistance at 0.7230, we see scope for gains upto 0.7290.

Immediate resistance is located at 0.7249 (5-DMA), break above will next next hurdle at 0.7280 and then 0.7286 (10-DMA).

Supports on the downside are seen at 0.7225 ( trendline ), 0.7212 (61.8% Fib) and then 0.72 levels.

Break above 0.73 could take the pair to 0.7360 levels. Weakness to resume on break below 0.7210.

Good to buy dips around 0.7240/50, SL: 0.7210, TP: 0.7280/0.73/0.7360
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