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Short

Short AUD/USD break below 0.7442, target 0.9396

FX:AUDUSD   Australian Dollar / U.S. Dollar
311 0 10
AUD/USD             price action capped below 100-DMA at 0.7478, intraday bias lower.

Technical indicators on weekly charts are heavily bearish , scope for more downside.

On the daily charts , downside has held major trendline support at 0.7445. Weakness only on break below.

Momentum studies are bearish , scope for test of 200-DMA at 0.7396.

Violation there could take the pair to 0.7285 levels.

Bearish invalidation only above 20-DMA at 0.7571.
Comment: Typo in the title : target 0.7396 (not 0.9396)
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