- AUD/USD fails to hold gains above the 0.77 handle, slips below to currently trade around 0.7672 levels.
- Downside finds strong support at 0.7665 (10-DMA), close below will see downside till 0.7636 (Aug 15 low) and then 0.76 and 0.7525 (50-DMA).
- On the flipside, major resistance is seen by falling trendline at 0.7750 region, multiple rejections seen.
- Upside only on break above, test of 0.7835 then likely.
- FOMC minutes remain the major risk event. Australian jobs report, due during early Asian session on Thursday will also be watched for direction.
Recommendation: Good to go short on close below 0.7665, SL: 0.77, TP: 0.7635/ 0.76/ 0.7525
