FxWirePro: AUD/USD rejected at highs, finds strong support at 0.7495 (200-DMA)

• AUD/USD rejected at fresh multi-week highs at 0.7588, edges lower to currently trade at 0.7540.
   
• The pair finds minor support at 5-DMA at 0.7530, break below could see downside upto 0.7495.
   
• We do no see any signs of reversal on daily charts. Intraday bias is lower.
   
• Break below 200-DMA at 0.7495 could see drag upto 0.7375.

TIME  TREND INDEX  OB/OS INDEX    

1H         Bearish            Neutral    
4H         Bearish            Neutral        
1D         Neutral             Neutral        
1W        Bullish              Neutral  

Support levels - 0.7529 (5-DMA), 0.7495 (200-DMA), 0.7467 (50% Fib of 0.7776 to 0.7160 fall), 0.74

Resistance levels - 0.7568 (Jan 17 high), 0.7588 (session high), 0.76, 0.7645 (78.6% Fib)

Call Update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-spikes-past-075-handle-bias-higher-good-to-go-long-on-dips-493410) has hit target price 1.

Recommendation: Book partial profits at highs. Raise trailing stop to 0.7495, hold for upside