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AUD/USD recovers from fresh 3-week lows, stay short

FX:AUDUSD   Australian Dollar/U.S. Dollar
202 0 9
AUD/USD             consolidating near three-week troughs, as markets continue to weigh worse-than-expected China trade data.

Momentum studies bearish , we see scope for test of 0.75 (major trendline). Violation there could see test of 200-DMA at 0.7437.

Our previous call (link below) has achieved TP 1 & 2. Bias lower.

Major support levels - 0.75 (trendline), 0.7450 (Sept 14 low), 0.7437 (200-DMA)

Major resistance levels - 0.7566 (5-DMA), 0.7603 (20-DMA), 0.7628 ( Oct             10 high)

Recommend holding for targets.

Fresh shorts can be entered on rallies around 0.7550, SL: 0.76, TP: 0.75/ 0.7450
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