FxWirePro: AUD/USD on track to test 200-DMA at 0.7506, stay short

• Possible "Bullish Shark pattern formation on AUD/USD daily charts.
   
• The pair has broken major trendline support at 0.7555 and is on track to test 200-DMA at 0.7506.
   
• Technical indicators are heavily bearish. Stochs and RSI are biased lower, while MACD line shows a bearish crossover on signal line.
   
• The pair is currently holding above 38.2% Fib at 0.7536, break below to see further drag.
   
• Major support levels - 0.7536 (38.2% Fib), 0.7506 (200-DMA), 0.7490 (Aug 31 low)
   
• Major resistance levels - 0.7570 (trendline), 0.76, 0.7628 (23.6% Fib)
   
• Our previous call (http://www.econotimes.com/AUD-USD-trade-idea-397303) has achieved TP1.
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Recommendation: Book partial profits, lower trailing stops to 0.7570, hold for targets