FxWirePro: AUD/USD unable to hold gains above 5-DMA, tests 0.6920 support

AUD/USD breach above 5-DMA at 0.6993 on Wednesday's trade proved short-lived, the spike to 0.7048 was quickly faded.

• Upbeat jobs data earlier in the day failed to lift the Aussie, it saw a marginal number of bullish pips, but then price resumed the downside.
   
• The pair tested major trendline support at 0.6920 and held above, breaks below could take the pair to 0.6855 (Apr 2009 lows).
   
• Pressure still on amidst a strong greenback and falling oil, while stock markets remain jittery in cautious market conditions.

Recommendation: Watchout for break below 0.6920 to go short for 0.6855, stops then at 0.6965 
Resistance Levels:

R1: 0.6964 (5-DMA)

R2: 0.70 (psychological level)

R3: 0.7021 (Jan 12th highs)

Support Levels:

S1: 0.6920 (Session low and trendline support)

S2: 0.6910 (Sept 7 lows)

S3: 0.6907 (Sept 4 lows)