AUD/USD is struggling to hold above 0.7800, decline till 0.7650 is possible

• RES 4: 0.78025 (28^th Jan high)

• RES 3: 0.7938 (24^th Mar high)

• RES 2: 0.7880 (26^th Mar high)

• RES 1: 0.7840
  
  

      PRICE: 0.7787 @ 9:11 GMT 

• SUP 1: 0.7775

• SUP 2: 0.773 (38.2% retracement of 0.75540 and 0.7841)

• SUP 3: 0.7699 (200 day 4HMA)

• SUP 4: 0.7650

AUD/USD has made a high of 0.7840 and retreated from that level. Short term trend is weak as long as resistance 0.7850 holds

On the downside minor support is around 0.7750 and break below will drag the pair further down till 0.7695/0.7650.

Indicator (4 hour)

Woodies CCI (14) - Neutral

CCI (50) - Sell

Ichimoku-Neutral

It is good to Sell around 0.7800 for the target of 0.7650 with stop around 0.7765.