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, break below confirms weakness - EconoTimes)
- AUD/USD rejected at major trendline resistance, slips lower to test cloud support.
- Stochs are on the verge of a rollover from overbought territory, RSI biased lower.
- The pair finds strong support at 0.7592 (20-DMA), break below to confirm weakness.
- Violation at 20-DMA could drag the pair lower to test major trendline support at 0.7485 levels.
- Major support levels - 0.7628 (cloud top), 0.7592 (20-DMA), 0.7522 (Cloud base), 0.7485 (trendline)
- Major resistance levels - 0.7705 (trendline), 0.7723 (88.6% Fib), 0.7732 (Sept 8 high)
Recommendation: Good to go short on decisive break below 0.7590, SL: 0.7625, TP: 0.7522/ 0.7485
