AUD/USD retreats from higher levels, good to sell on rallies

• RES 4: 0.7817 (Jun 3^rd high)

• RES 3: 0.7760 (Jun 4^th high)

• RES 2 :0.7725

• RES 1 : 0.7692 (7 day 4H EMA)

      PRICE: 0.7635 @ 11:58 GMT 

• SUP 1: 0.7650

• SUP 2:0.7590 (Jun 1^st low)

• SUP 3 : 0.7550 (Apr 2^nd low)

• SUP 4: 0.7500

Commentary:

AUD/USD has made a high of 0.7725 and is retreating from that level. Overall trend is bearish as long as resistance 0.7680 holds

On upside the minor resistance is around 0.7680 and break above would extend gains till 0.7725/0.70.7760.

Indicator (4 hour)

 CCI (14) - Sell

CCI (50) - Sell

Ichimoku- Sell

It is good to sell on rallies around 0.7670 for the target of 0.7590/0.7550 with stop around 0.7725.