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FxWirePro: AUD/USD rejected by session highs at 0.6958, good to sell rallies

  • AUD/USD now pushing further down below the 0.69 handle, giving up almost 60 pips from session highs reached at 0.6958 in early Asia.
  • Risk sentiment seems to have worsened over the last hours, with the Asian stocks paring gains as oil and copper recovery falters.

  • Techs on 4H charts point lower, pair cloud test channel base at 0.6830

  • 0.6920 (4H 5DMA) is immediate resistance on the upside, while support on the downside lies at 0.6838 (Jan 19 lows).

Recommendation: Good to sell rallies around 0.69, Sl: 0.6960, TP: 0.6840

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