AUD/USD retreats from higher level, good to buy at declines

•RES 4 :0.83750 (Dec 11th high)

•RES 3: 0.8294 (Jan 15th high)

•RES 2: 0.8225 (161.8% retracement of 0.8162 and 0.8062)

•RES 1: 0.8165

PRICE: 0.8055 @ 06:48 GMT

•SUP 1: 0.8015 (23.6% retracement of 0.75322 and 0.8162)

•SUP2: 0.7965 (200 day HMA)

•SUP 3: 0.7930 (61.8% retracement of 0.7785 and 0.8162)

•SUP 4:0.7860 (May 8th low)

Commentary:

AUD/USD has reached 0.8162 and retreated from that level. Short term trend is bullish as long as major support 0.7965 hold.

On the minor support is around 0.8015 and below that it can reach till 0.7965/0.7930.

Indicator (1 hour)

CCI (14) – Sell

CCI (50) – Sell

Ichimoku- sell

It is good to buy at dips around 0.8015 for the target of 0.8162/0.8220 with stop around 0.7965.