AUD/USD: Trade ideas for July 25
By Felipe Erazo
The AUDUSD has found support in the bullish trend line that is drawn on the H1 chart, which coincides with the 200 EMA (green line). There, the pair is trying to make a rebound to resume the bullish trend. However, keep in mind that a breakout of the trend line, could lead to the AUDUSD to fall to the support level of 0.9382.
Also, if the pair manages to make a breakout at that level, the next target would be the support level of 0.9363, which would help strengthen the bearish bias on the Aussie. On the other hand, if the AUDUSD manages to make a breakout of the resistance level 0.9420, it's expected to rise to the level of 0.9437, which would be a strong bullish consolidation.
Trading recommendations: Place sell orders if the AUDUSD does a breakout at the bullish trend line, with take profit at 0.9382. Also, you can place more sell orders if the Aussie does a breakout at the support level of 0.9382, with take profit at 0.9363.