Daily Forecast - 30 June 2015
AUDUSD Spot
AUDUSD first support at 7650/45 but below here we test 3 month trend line support at 7630 for profit taking on any remaining shorts. If however this does not hold the downside we retest June lows at 7595/85. A break below here today to target 7555/50 & perhaps as far as important support at April lows at 7530.
A positive candle yesterday may signal a further recovery today. Holding 7650/45 targets resistance at 7685/90. We should struggle here initially but if we continue higher look for stronger resistance at 7710/15. Sell here, stop 7735. Target1 @7685 (trail stop to entry), Trgt2 @7650. On a break higher however we meet minor resistance at 7745/50 then the 100 day moving average at 7765/70 & a good chance of a high for the day.
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