BUZ INVESTORS AUDUSD Early glance The AUDUSD decreased 0.0003 or 0.04% to 0.7615 on Monday June 19 from 0.7618 in the previous trading session. Historically, the Australian Dollar reached an all time high of 1.10 in July of 2011 and a record low of 0.48 in April of 2001.
As the Australian dollar has retreated after meeting resistance at 0.7636 earlier this week, suggesting consolidation below this level would be seen and pullback t0 0.7550-60 cannot be ruled out, however, reckon support at 0.7524 would limit downside and bring another rise later, above said resistance at 0.7636 would extend recent upmove from 0.7329 towards resistance at 0.7680 but loss of momentum should limit upside and price should falter below chart point at 0.7750.
In view of this, we are looking to buy aussie on dips as 0.7520-25 should limit downside and bring another rise. Only below support at 0.7457 would abort and suggest top is possibly formed, bring weakness to 0.7415-20 but price should stay well above key support at 0.7372, bring another rebound later.
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