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FxWirePro: AUD/USD holds minor support at 0.7568, weakness only on breaks below

AUD/USD has downside has tested 0.7568, and has edged slightly above to currently trade at 0.7590 levels. 0.7568 is minor trendline support for the pair, breaks below could see downside to 0.7550 and then 0.75 levels. Ho…

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  • AUD/USD has downside has tested 0.7568, and has edged slightly above to currently trade at 0.7590 levels.
     
  • 0.7568 is minor trendline support for the pair, breaks below could see downside to 0.7550 and then 0.75 levels.
     
  • Hourly charts show some momentum higher, Stochs show a rollover from oversold and RSI has bounced off from near 30 levels and is biased higher.
     
  • Pair finds immediate resistance at 0.7591 (4H 10-DMA), and support is located at 0.7570 (trendline).
     
  • Breaks below 0.7570 could see test of 0.7545 and then 0.7530 levels. On the flipside, break above 0.76 could see gains upto 0.7650.
    ​

Recommendation: Go short on breaks below 0.7570, SL: 0.7610, TP: 0.7545/0.7530
 

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