FxWirePro: AUD/USD upside capped by 50-DMA, bias lower, good to short rallies

• On the daily charts, AUD/USD has bounced off daily cloud on March 9 trade. 
   
• The pair has broken above 5-DMA but remains capped below strong resistance by 50-DMA at 0.7572.
   
• Intraday bias is lower. The pair is currently holding 1H 50-SMA support at 0.7555, break below will see drag till 0.7490.
   
• Bearish RSI divergence seen on hourly charts which builds scope for downside.
   
• On the flipside, break above 50-DMA at 0.7572 will see test of 0.7632 (March 7 high) 

Support levels - 0.7538 (5-DMA), 0.7521 (cloud top), 0.7491 (March 9 low)

Resistance levels - 0.7572 (50-DMA), 0.76, 0.7632 (March 7 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bearish               Neutral       
4H          Bearish               Neutral       
1D          Bearish               Neutral        
1W         Neutral                Neutral      

Recommendation: Good to short rallies around 0.7560/70, SL: 0.7625, TP: 0.7535/ 0.7490/ 0.7450

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 76.2611(Slightly bullish), while Hourly USD Spot Index was at -111.687 (Highly bearish) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.