AUD/USD is trading well below cloud, good to sell on rallies

• RES 4: 0.8062 (Support turned into resistance)

• RES 3: 0.7985 (200 day HMA)

• RES2: 0.7940 (Kijun-Sen)

• RES 1: 0.7915 (20 day HMA)

      PRICE: 0.7894 @ 09:06 GMT 

• SUP 1:0.7860 (May 8^th low)

• SUP 2 :0.7785 (May 5^th high)

• SUP3: 0.7715

• SUP4: 0.7680 (Apr 21^st low)

Commentary:

AUD/USD has broken major support 0.7980 and declined till 0.78828. Short term trend is weak as long as resistance 0.7985 holds.

On downside the minor support is around 0.7860 and below that it can reach till 0.7780/0.7720.

Indicator (1 hour)

 CCI (14) - Sell

CCI (50) - Sell

Ichimoku- sell

It is good to sell on rallies around 0.7940 for the target of 0.7860/0.7785 with stop around 0.7990.