AUDUSD trades in extended recovery from 0.7370; strong resistance at 0.7450 in focus

Slobodan Drvenica Windsor Brokers

AUDUSD

Aussie remains supported in Asia today, following bullish close on Thursday after finding footstep at 0.7370 zone.
N/t action is attempting to sustain gains above 0.7400 handle (weekly cloud top) for extended recovery of Wed’s sharp fall (0.7495/0.7372).
We need to see close above 0.7450 pivot to confirm reversal, otherwise risk of lower top formation and fresh weakness will remain in play, as daily studies are firmly bearish, as the pair ended November in red.

Res: 0.7431; 0.7450; 0.7495; 0.7524

Sup: 0.7400; 0.7370; 0.7308; 0.7283

Interested in AUD/USD technicals? Check out the key levels

1. R3 0.7573
2. R2 0.7549
3. R1 0.7523
PP 0.7499
1. S1 0.7474
2. S2 0.7450
3. S3 0.7424

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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