FxWirePro: AUD/USD struggles at 20-DMA, good to go long on break above

• AUD/USD remains capped below strong resistance at 20-DMA currently at 0.7945.
   
• Technical indicators support upside in the pair and break above 20-DMA to see further upside.
   
• RSI is above 50 levels and biased higher. Stochs also point north. Price action is above daily cloud and major EMAs.
   
• Break above 20-DMA to see test of 61.8% Fib at 0.80 levels ahead of 0.8055 (78.6% Fib).
   
• 50-DMA is immediate support at 0.7865, break below could see minor weakness.

Support levels - 0.7902 (38.2% Fib), 0.7847 (23.6% Fib), 0.7816 (cloud base)

Resistance levels - 0.7945 (20-DMA), 0.7988 (Feb 16 high), 0.8055 (78.6% Fib)

Recommendation: Watch out for break above 20-DMA for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 165.894 (Bullish), while Hourly USD Spot Index was at 101.776 (Bullish) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest