- AUD/USD has halted 2 consecutive sessions of losses and has edged higher on the day.
- But pair struggling at the 0.74 handle, pair remains capped below 38.2% Fib at 0.7408, intraday bias is lower.
- Strong support is seen at 0.7355 levels (4H 200- SMA) and trendline. Break below could see further weakness.
- NAB gauges due tomorrow and US Retail Sales will be in focus for clues on further direction.
- Immediate support is seen at 0.7359 (June 7th and session low till now), while resistance is seen at 0.7425 (5-DMA).
Recommendation: Enter shorts on decisive break below 0.74, SL: 0.75, TP: 0.7380/ 0.73/ 0.7290.
