FxWirePro: AUD/USD recovers slightly from fresh 3-week lows at 0.7518, bias lower, stay short

• AUD/USD knocked-down to fresh multi-week lows closer towards 0.75 handle.
   
• The pair consolidating near three-week troughs, as markets continue to weigh worse-than-expected China trade data.
   
• Momentum studies bearish, we see scope for test of 0.75 (major trendline). Violation there could see test of 200-DMA at 0.7437.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-breaches-20-DMA-support-bias-lower-good-to-sell-rallies-335732) has achieved TP1.
   
• Major support levels - 0.75 (trendline), 0.7450 (Sept 14 low), 0.7437 (200-DMA)
   
• Major resistance levels - 0.7566 (5-DMA), 0.7603 (20-DMA), 0.7628 (Oct 10 high)
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Recommendation: Hold for targets. Fresh shorts can be entered at highs around 0.7550, SL: 0.76, TP: 0.75/ 0.7450