FxWirePro: AUD/USD breaks below major support at 0.7560, intraday bias lower

• AUD/USD has broken major trendline support at 0.7560, we see scope for test of 100-DMA at 0.7498.
   
• Data released earlier today showed that New home sales in Australia plunged to a decade-low during the month of July.
   
• Data released by the Housing Industry Association (HIA) showed Monday that new home sales fell a seasonally adjusted 9.7 percent in July, more than offsetting an 8.2 percent spike in June.
   
• Techs on daily charts support downside, bearish invalidation only above 50-DMA (0.7559).
   
• Supports on the downside are seen at 0.7525 (session low), 0.75, 0.7450.
   
• On the flipside, break above 50-DMA at 0.7559 will see next resistance at 0.7575 (July 11 high) and then 0.76.
   
• Hawkish comments from Fed’s Yellen on Friday to keep USD supported. Focus now on US personal spending and income report due later today.
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Recommendation: Good to go short around 0.7550, SL: 0.76, TP: 0.75/ 0.7450