FxWirePro: AUD/USD rejected at 200-DMA, bullish divergence keeps scope for upside

• AUD/USD fails near 200-DMA on Friday's trade, slips back below 0.78 handle.
   
• The pair has  retraced from highs of 0.7810, near one-month tops hit on Friday and is currently trading at 0.7772, up 0.06% on the day.
   
• Aussie is struggling to maintain bullish momentum amid waning risk appetite as conflict in Syria lingers.
   
• Focus now on U.S. retail sales data. A better-than-expected print could put a bid under the greenback.
   
• Tuesday will see the release of the minutes of the Reserve Bank of Australia meetings. Last week, RBA Governor Phillip Lowe said rates are “unlikely to move anytime soon”.
   
• Technical studies are biased higher and bullish divergence on RSI and Stochs keeps scope for upside.
   
• Fundamental factors are bearish and we see any further gains only on decisive break above 100-DMA at 0.7789.
   
• A series of stiff resistance in the 0.7781 to 0.7820 zone. Close above could see further bullishness.
   
• On the flipside, break below 21-EMA at 0.7735 negates bullish bias. 

Support levels - 0.7760 (5-DMA), 0.7735 (21-EMA), 0.77

Resistance levels - 0.7781 (50-DMA), 0.7789 (100-DMA), 0.78, 0.7813 (200-DMA)

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