AUD/USD breaks 200 day HMA due to weak Chinese trade data, decline till 0.7530 cannot be ruled out

• RES 4: 0.7785 (61.8% retracement of 0.7937 and 0.75322)
  
  
• RES 3:   0.7738 (Apr 9^th high)
  
  
• RES 2: 0.7706 (Ichimoku cloud )
  
  
• RES 1: 0.7642(200 day HMA)
  
  PRICE: 0.75869 @ 07:31 GMT 
  
  
• SUP 1: 0.7600
  
  
• SUP 2: 0.7570 (Apr 6^th low)
  
  
• SUP 3: 0.7530 (Apr 2^nd low)
  
  
• SUP 4: 0.7500

AUD/USD has broken major support 0.7640 aftre release of China's trade data. China's trade surplus has dropped sharply to 3.1bn in Mar compared to forecast of 43.4 bn.Overall trend is weak as long as resistance 0.7650 holds.

On the downside minor support is around 0.7600 and break below will drag the pair further down till 0.7570/0.7530.

It is good to sell around 0.7620 for the target of 0.7530 with stop around 0.7650.