FX.co ★ AUD/USD analysis for July 05, 2018

Recently, AUD/USD has been trading downwards. The price tested the level of 0.7360. Anyway, 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 target is set at the price of 0.7440.

Resistance levels: R1: 0.7411R2: 0.7440R3: 0.7460

Support levels: S1: 0.7360S2: 0.7345S3: 0.7350 Trading recommendations for today: watch for potential buying opportunities.