FxWirePro: AUD/USD upside capped by cloud top at 0.7528, momentum bullish

• Risk-on back in markets after latest round of Brexit polls showed an overall lead for the ‘remain’ vote. Greenback is being offered in Asia.
   
• AUD finds support from iron ore prices, which jumped out of its steady trading range. Iron ore rose 2% to USD 51.70/tonne.
   
• AUD/USD extends upside to hit new monthly high of 0.7527. Pair has given up some of the gains to currently trade around 0.7518.
   
• Momentum studies are bullish. Upside for now capped below daily cloud top at 0.7528, break above will see further gains.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-rebounds-on-renewed-optimism-good-to-go-long-on-breakout-above-07450-223791) has achieved TP1&2.
   
• Pair now finds immediate support at 0.7463 (5-DMA) and resistance at 0.7528 (cloud top).
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Recommendation: Book partial profits at highs, raise trailing stops to 0.7460, hold for 0.7560