Overview:
- The resistance is seen at 0.7794 and support is found at 0.7701. So, according to the previous events, the AUD/USD pair is going to move between the resistance and support (0.7794 and 0.7701). As a rule, history will probably repeat at this level again. Therefore, we expect a range about 93 pips on June 24, 2014. If the trend fails to close below the level of 0.7696, it will be a good opportunity to buy above 0.7700 with the first target at 0.7742. Then, it will move straight towards 0.7785. The stop loss should always be taken into account because it should never exceed your maximum exposure amounts. As a result, the level of 0.7668 is the best location to set your stop loss .
Notes:
- The 38.2% Fibonacci retracement level is at 0.7696. Moreover, The support is seen at 0.7696.
- The resistanceis seen at 0.7794.
- The Volatility: 142.75. As a rule, the market is highly volatile if the previous day had a huge volatility.
Intraday technical levels:
- R2: 0.7794
- R1: 0.7691
- PP: 0.7595
- S1: 0.7645
- S2: 0.7696
