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- AUD/USD held support at 0.75837 (double bottom) and has edged higher.
- Spinning top formed at lows on Monday's trade, pair has broken 20-DMA resistance at 0.7625.
- We see scope for test of 0.7680 (4H channel top), weakness only below 0.7583.
- Resistance is seen at 0.7663 (10-DMA) ahead of 0.7680 (4H channel top) and then 0.77.
- On the downside supports are seen at 0.7625 (20-DMA), 0.76 and then 0.7583 (double bottom).
- Focus on US flash manufacturing PMI and new home sales due later tonight, ahead of the Jackson Hole Symposium scheduled later this week.
Recommendation: Good to go long on dips around 0.7630/35, SL: 0.7580, TP: 0.7680/ 0.77
