FxWirePro: AUD/USD recovery capped at 20-DMA at 0.7595, bias lower, stay short

• AUD/USD has closed below 20-DMA on Thursday's trade, bias lower.
   
• Minor recovery attempts made by the pair in the Asian session today capped at 20-DMA at 0.7595.
   
• Aussie dented amid risk-off triggered by tumbling oil prices and Asian stocks and with the Australian benchmark ASX 200 index losing -1.20% on the day.
   
• Technical indicators are bearish, RSI and Stochs are biased lower, MACD now shows a bearish crossover on signal line.
   
• US NFP report due later in the NA session to have a major impact on the future direction.
   
• Market expects NFP to add 178k jobs, well above the 92k pace needed to keep unemployment at 4.5% over the next 12 months.
   
• Analysts advise caution as the month-to-month changes in payroll employment have been volatile lately.
   

Support levels - 0.7532 (200-DMA), 0.7506 (50-DMA), 0.7420 (trendline)

Resistance levels - 0.7595 (20-DMA), 0.76, 0.7635 (June 14 high)

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-extends-decline-for-4th-straight-session-bias-lower-stay-short-789814) has almost hit TP1.

Recommendation: Book partial profits at lows, lower trailing stop to 0.7610, hold for downside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -51.6229 (Neutral), while Hourly USD Spot Index was at -9.71773 (Neutral) at 0540 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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