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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD analysis for July 06, 2018

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Recently, AUD/USD has been trading downwards. As I expected, the price tested the level of 0.7417. According to the H1 time - frame, I found a potential end of the expanded flat downward correction, which is a sign that selling looks risky. I also found a breakout of the suppy trendline in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 0.7470 and at the price of 0.7540.

Resistance levels: R1: 0.7410R2: 0.7432R3: 0.7456

Support levels: S1: 0.7362S2: 0.7338S3: 0.7315

Trading recommendations for today: watch for potential buying opportunities

The material has been provided by InstaForex Company - www.instaforex.com