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  |   Technicals

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FxWirePro: 100-DMA caps upside in AUD/USD, intraday bias lower

  • AUD/USD price action capped below 100-DMA at 0.7478, intraday bias lower.
     
  • Technical indicators on weekly charts are heavily bearish, scope for more downside.
     
  • On the daily charts downside has held major trendline support at 0.7448. Weakness only on break below. 
     
  • Momentum studies are bearish, scope for test of 200-DMA at 0.7396.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-holds-trendline-support-break-below-targets-200-DMA-at-07394-283916) holds. 
     
  • Major support levels - 0.7448 (trendline), 0.7396 (200-DMA), 0.7371 (June 30 low)
     
  • Major resistance levels - 0.7478 (100-DMA), 0.7496 (5-DMA), 0.75, 0.7563 (10-DMA)

Recommend holding for targets.
 

  • Market Data
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