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AUD/USD Short Term Outlook

FX:AUDUSD   Australian Dollar/U.S. Dollar
228 1 2
AUD/USD             has faced stiff resistance around 0.7900 and retreated from that level. Any further bullishness can be seen only above that level.

On the upside break above 0.7900 would extend gains to 0.7950 and 0.8025.

The pair’s major support is around 0.7850 and break below will confirm intraday weakness and dip till 0.7800/0.7770 cannot be ruled out.

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell AUD/USD             around 0.7850, SL 0.7875, Targets 0.7800/0.7770.
Well this trade is over befor it even got started.
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