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Add as a preferred source on Google FxWirePro: AUD/USD struggles at 0.77 handle, good to sell rallies AUD/USD is attempts to retake the 0.77 handle after hitting lows of 0.7691, but bears more dominant. Pair is struggling to extend gains beyond the 0.77 handle, downside likely to extend. The major has broken strong trend…
By FxWire Pro Apr 25, 2016, 4:46 AM UTC
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AUD/USD is attempts to retake the 0.77 handle after hitting lows of 0.7691, but bears more dominant.
Pair is struggling to extend gains beyond the 0.77 handle, downside likely to extend.
The major has broken strong trendline support at 0.7735 on Friday's trade and Techs are indicative of further downside.
10-DMA at 0.7725 is immediate resistance on the upside ahead of 0.7749 (5-DMA) and then 0.7755 (trendline).
On the downside supports are aligned at 0.7680 (Apr 15th lows), 0.7634 (double bottom Mar 31st and April 13th).
Recommendation: Good to sell rallies around 0.77/0.7710 levels, SL: 0.7750, TP: 0.7680/0.7650/0.7635
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