The AUDUSD: growth halted at 0.7280 resistance
Strong resistance at 0.7280 halted further uptrend in the Australian dollar again. The test of the level is followed by correction down.
The correction has already allowed bears to hold below the closest support of 0.7250. Taking into account yesterday’s low volatility, this correction has all chances to continue.
The breakout of 0.7225 support will be a signal for further decline, which will open the way to 0.7155 mark.
The uptrend will continue if price breaks and holds above the weekly high of 0.7280. The breakout will open the way towards 0.7380.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!