FxWirePro: AUD/USD slips below 0.78 handle, good to go short, target 0.7690

• AUD/USD down from 10-month highs hit on Tuesday's trade as sentiment soured across markets as oil turned back in the negative territory.
   
• RBA Governor Glenn Stevens’ speech yesterday was globally focused and had no impact on the AUD. 
   
• The major is likely to track risk sentiment and commodity prices as oil has clearly shaken off the Doha drop. A further rally in equities will be supportive of the AUD.
   
• On the Technical side, the pair has edged below the 0.78 handle (minor trendline support and psychological level) and is currently trading with a negative bias.
   
• 4H 10-SMA support at 0.7781 is holding on the downside, breaks below will accentuate downside.
   
• Pair finds next support at 0.7750 (5-DMA), 0.7745 (Apr 18th lows), and then 0.7680 (Apr 15th low, 4H 55EMA).
   
• On the upside, pair finds stiff resistance at 0.7830 (rising trendline), bearish invalidation only on breaks above.
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Recommendation: Good to short rallies around 0.7785/90, SL: 0.7830, TP: 0.7750/0.77/0.7690