FxWirePro: AUD/USD trade idea

Technical Analysis: 

• Bearish bias builds on AUD/USD intraday charts.
• The pair finds stiff resistance at 0.7350 (channel top).
• Price action is on the verge of break below channel base on 1H charts.
• 4H 200-SMA caps upside.
• Technical indicators have turned bearish on intraday charts.

Fundamental Factors: 

• Data released earlier today showed Australia posted surprise trade surplus for first time in nearly three years.
• Focus now on nonfarm payrolls showdown tonight.

Important Levels: 

• Support: 0.7305 (23.6% Fib), 0.7274 (20-DMA), 0.7226 (1H 200-SMA), 0.7160 (trendline)
• Resistance: 0.7348 (4H 200-SMA), 0.7355 (channel top), 0.7396 (38.2% Fib) 

Call Update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-extends-upside-holds-above-5-DMA-471842) has achieved all targets.

Recommendation: Good to go short on rallies around 0.7325, SL: 0.7360, TP: 0.73/ 0.7275/ 0.7226/ 0.7160