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FxWirePro: AUD/USD hovers around 20-DMA, close below to confirm downside

  • Aussie under pressure in wake of increased odds of RBA easing after yesterday’s poor employment numbers.
     
  • Weakness across the commodities space also collaborates to the downbeat sentiment around the resource-linked AUD.
     
  • The pair ended six-day winning streak and dived sharply into negative territory yesterday.
     
  • AUD/USD is currently holding above 20-DMA at 0.7626, weakness confirmed on break below.
     
  • Techs on intraday charts have turned bearish, RSI and Stochs are biased lower.
     
  • Major support levels -  0.7626 (20-DMA), 0.76, 0.7581 (Oct 17 low)
     
  • Major resistance levels - 0.7654 (5-DMA), 0.77 (trendline), 0.7760 (Aug 11 high)
     
  • Our previous call (http://www.econotimes.com/fxwirepro-aud-usd-tanks-after-poor-jobs-data-good-to-short-rallies-357651) has achieved TP1.
     
  • Recommend holding for targets.
     
  • Market Data
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