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AUD/USD Daily Outlook

FX:AUDUSD   Australian Dollar/U.S. Dollar
224 0 2
AUD/USD             has regained to Pre-RBA levels. AUD/USD             is trading well above 0.7800 level. The gain in the Australian dollar             is mainly due to the rumor that PBOC will be cutting their rates to boost their economy.

On the Upside AUD/USD             is facing major resistance around 0.7860 (200 day HMA ) and any break of will take the pair to 0.8025 in short term. Short term trend reversal only above 0.7860 level.

The pair’s minor support is around 0.7800 and any break of will target 0.7750/0.7720.

Recommendation: Sell AUD/USD             around 0.7835, SL 0.7861, Targets 0.775/0.7721.
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