7240 Historical S/R for AU

7240 Has been an attractive price to sell numerous times on AU. Recent aussie strength and USD bearish sentiment made for this move up. If you look at my previous analysis (tagged) we reached the Fib level and bounced off. We still need to retest the buying pressure at that level and a break below will take the pair down to .7070 and maybe even .66 cents. If it breaks above 7240 the next place should look for a sell opp. is around 7400 level.

Regards,
VF