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- Upbeat US housing starts buoyed USD, dragging AUD/USD lower.
- The pair has broken below 20-DMA on the daily charts, Techs remain bearish.
- Our previous call (http://www.econotimes.com/FxWirePro-RBA-minutes-released-AUD-USD-slumps-despite-no-hint-of-August-easing-237557) has achieved TP1&2.
- We see scope for further downside, break below 0.74 could see test of 0.7380 and then 0.7350 levels.
- Immediate support and resistance are seen at 0.7468 (session low) and 0.7514 (20-DMA).
Recommend booking partial profits, lower trailing stop to 0.7520, hold for targets.
