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Short

AUD/USD retreats on RBA minutes meeting, good to sell on rallies

FX:AUDUSD   Australian Dollar/U.S. Dollar
262 1 4
•RES 4: 0.8294 (Jan 15th high)

•RES 3: 0.8225 (161.8% retracement of 0.8162 and 0.8062)

•RES2: 0.8165(May 14th High)

•RES 1: 0.8062 (Support turned into resistance)

PRICE: 0.8014 @ 06;53 GMT            

•SUP2:0.7984 (200 day HMA )

•SUP 3: 0.7930 ( 61.8% retracement of 0.7785 and 0.8162)

•SUP 4:0.7860 (May 8th low)

•SUP4:0.7785 (May 5th high)

Commentary:

AUD/USD             breaks major support 0.79950 after RBA minutes meeting. Short term trend is bearish as long as major resistance 0.8065 holds.

RBA minutes meeting unveiled that policymakers had consider reducing interest rates in June.

On downside the minor support is around 0.7960 and below that it can reach till 0.7930/0.7860.
Indicator (1 hour)
CCI (14) – Sell
CCI (50) – Sell
Ichimoku- sell
It is good to sell on rallies around 0.8000 for the target of 0.7860 with stop around 0.8065.
recommended stop loss
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