FxWirePro: AUD/USD rejected at session highs, hovers around 5-DMA at 0.7552

• AUD/USD hovers around 5-DMA at 0.7552 after rejection at session highs at 0.7572.
   
• The pair is set to continue decline after rejection at major trendline at 0.76 on Jan 24.
   
• Rollover of Stochs from overbought zone with confirmation on MACD could accentuate weakness.
   
• Focus on major data lined up for this week which includes - US core PCE price index data, followed by the FOMC decision, China manufacturing PMI and US payrolls.
   
• Support levels - 0.7540 (61.8% Fib), 0.7527 (Jan 30 lows), 0.7499 (100-DMA), 0.7467 (50% Fib)
   
• Resistance levels - 0.7572 (session high), 0.76 (Jan 24 high), 0.7644 (78.6% Fib)
   

Call update: We had advised a short in our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-continues-declines-after-major-trendline-rejection-stay-short-511760). Recommend holding for targets.
 

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 32.51 (Neutral), while Hourly USD Spot Index was at 15.1084 (Neutral) at 0725 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.