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Short

AUD/USD breaches 20-DMA support, good to sell rallies

FX:AUDUSD   Australian Dollar / U.S. Dollar
254 1 11
Broadly higher greenback and weaker commodities’ prices keep the Aussie subdued.

Muted reaction to upbeat Australian trade balance data, focus remains on the US Friday’s NFP data.

Technicals are bearish , the pair has breached 20-DMA support at 0.7589, on track to test 100-DMA at 0.7514.

Price action has broken into daily cloud. Stochs and RSI biased lower, MACD is on the verge of a bearish crossover on signal line.

Major support levels - 0.7536 ( double bottom ), 0.7514 (100-DMA), 0.7485 ( trendline )

Major resistance levels - 0.7607 (50-DMA) , 0.7629 (5-DMA), 0.7645 (Oct 5 high)

Good to sell rallies around 0.7590/0.76 SL: 0.7645, TP: 0.7535/ 0.7515/ 0.75
Agree, thx.
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