FxWirePro: AUD/USD holds trendline support, break below targets 200-DMA at 0.7394

• AUD/USD is making minor-recovery attempts after yesterday’s sell-off, tepid-bounce in commodities’ prices supports.
   
• On the daily charts downside has held major trendline support at 0.7442.
   
• Technical indicators on weekly charts largely bearish, scope for more downside.
   
• Our previous call (http://www.econotimes.com/FxWirePro-Aussie-fails-to-hold-Chinese-data-led-gains-good-to-short-AUD-USD-break-below-07540-281462) has almost hit all targets.
   
• Break below 0.7442 to see test of 200-DMA at 0.7394.
   
• Major support levels - 0.7445 (trendline), 0.7395 (200-DMA), 0.7371 (June 30 low)
   
• Major resistance levels - 0.7486 (session high), 0.75, 0.7537 (5-DMA), 0.7574 (10-DMA), 0.75
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Recommendation: Good to sell rallies around 0.7490, SL: 0.7585, TP: 0.7445/ 0.74/ 0.7375