FxWirePro: AUD/USD breaks major trendline resistance at 0.7640, good to long dips

• In line Australia GBP data along with higher commodities’ prices, especially oil and copper to keep Aussie supported.
   
• RBA left the cash rate unchanged at a record low of 1.5% earlier today. Downside remains cushioned as the policy statement offered no explicit dovish bias and continues to remain data-dependent.
   
• USD on the back foot as hawkish Fed comments do not match incoming data. Sharp sell-off in US dollar across the board yesterday after the release of a horribly weak US ISM non-manufacturing PMI number.
   
• AUD/USD spiked higher to break 20-DMA (0.7618) and major trendline resistance at 0.7640.
   
• Techs poised for more gains. We see bullish 5-DMA crossover on 10-DMA. MACD has also evidenced a bullish crossover on signal line.
   
• Major support levels - 0.7635 (trendline resistance turned support), 0.7616 (20-DMA), 0.7609 (5-DMA), 0.76
   
• Major resistance levels - 0.7692 (Aug 26 high), 0.77, 0.7740 (trendline), 0.7749 (Aug 16 high)
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Recommendation: Go long on dips around 0.7650, SL: 0.7610, TP: 0.7690/ 0.77/ 0.7740