AUD/USD is struggling to break trend line resistance, good to sell on rallies

• RES 4: 0.8062 (Support turned into resistance)

• RES 3: 0.7985 (200 day HMA)

• RES2: 0.7935 (cloud bottom)

• RES 1: 0.7915 (trend line resistance)

      PRICE: 0.78994 @ 07:26 GMT 

• SUP 1:0.7860 (May 8^th low)

• SUP 2 :0.7785 (May 5^th high)

• SUP3: 0.7715

• SUP4: 0.7680 (Apr 21^st low)

Commentary:

AUD/USD is facing resistance around 0.7915 (trend line joining 0.8162 and 0.8134) and is struggling to close above that level.

On downside the minor support is around 0.7860 and below that it can reach till 0.7780/0.7720.

Indicator (1 hour)

 CCI (14) - Buy

CCI (50) - Sell

Ichimoku- Neutral

It is good to sell on rallies around 0.7915 for the target of 0.7860/0.7785 with stop around 0.7985.