AUD/USD breaches 20-DMA support, good to sell rallies
Broadly higher greenback and weaker commodities’ prices keep the Aussie subdued.
Muted reaction to upbeat Australian trade balance data, focus remains on the US Friday’s NFP data.
Technicals are bearish, the pair has breached 20-DMA support at 0.7589, on track to test 100-DMA at 0.7514.
Price action has broken into daily cloud. Stochs and RSI biased lower, MACD is on the verge of a bearish crossover on signal line.
Major support levels - 0.7536 (double bottom), 0.7514 (100-DMA), 0.7485 (trendline)
Major resistance levels - 0.7607 (50-DMA) , 0.7629 (5-DMA), 0.7645 (Oct 5 high)
Good to sell rallies around 0.7590/0.76 SL: 0.7645, TP: 0.7535/ 0.7515/ 0.75
Muted reaction to upbeat Australian trade balance data, focus remains on the US Friday’s NFP data.
Technicals are bearish, the pair has breached 20-DMA support at 0.7589, on track to test 100-DMA at 0.7514.
Price action has broken into daily cloud. Stochs and RSI biased lower, MACD is on the verge of a bearish crossover on signal line.
Major support levels - 0.7536 (double bottom), 0.7514 (100-DMA), 0.7485 (trendline)
Major resistance levels - 0.7607 (50-DMA) , 0.7629 (5-DMA), 0.7645 (Oct 5 high)
Good to sell rallies around 0.7590/0.76 SL: 0.7645, TP: 0.7535/ 0.7515/ 0.75
