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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 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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