FxWirePro
Short

AUD/USD eyes trendline support at 0.7025, stay short

FX:AUDUSD   Australian Dollar / U.S. Dollar
An improved Australia trade balance released earlier today failed to impress Aussie bulls.
AUD/USD trades weaker on the day, extends downside below 0.71 handle.
Overall bias remains firmly bearish heading into the US Non-Farm Payrolls Friday. The dollar is outperforming as U.S. data remains strong.
Focus also on Australia Retail Sales for August at 00:30 GMT Friday. Forecast stand at 0.3% versus the previous month's 0.0%.
Our previous call has hit all targets.
Book partial profits. Trail SL to 0.7175. Target 0.7025/ 0.6980.
I agree with your bearish view on AUDUSD, we have found resistance level at 0.7086 which is a horizontal overlap resistance.
Aditionally RSI and Ichimoku cloud is also facing bearish pressure
Glad that we have the same view on AUDUSD
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