Market Scenario 1: Long positions above 0.7232 with targets @ 0.7254 & 0.7284
Market Scenario 2: Short positions below 0.7232 with targets @ 0.7202 & 0.7180
Comment: Amid adverse news out of Australian’s Private Capital Expenditure Aussie came under selling pressure and closed yesterday’s session with 30 pips loss against US Dollar, erasing almost all the gains it managed to achieve on Tuesday. Today Aussie continues trading under pressure testing the First support level.
Supports and Resistances:
R3 0.7306
R2 0.7284
R1 0.7254
PP 0.7232
S1 0.7202
S2 0.7180
S3 0.7150