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Short AUD/USD break below 0.7490, target 0.7420

FX:AUDUSD   Australian Dollar/U.S. Dollar
256 2 18
AUD/USD             downside finds strong support by 110-EMA at 0.7494.

Momentum studies are bearish , break below 0.7494 targets 0.7420.

Daily price action has dipped into daily cloud.

Recovery attempts were weak, pair unable to hold gains at 0.7533.

Major support levels - 0.7494 (110-EMA), 0.7420 ( double bottom July 27 and June 9), 0.74, 0.7380 (200-DMA).

Major resistance levels - 0.7525 (cloud top), 0.7561 (50-DMA), 0.76 ( trendline ), 0.7627 (20-DMA).

Good to short break below 0.7490, SL: 0.7530, TP: 0.7420/ 0.74
https://www.tradingview.com/chart/5CJPo4qW/
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Daily chart USD Index in my point of view. Still going uptrend till 98/98.25 finishing wave 5 before drop. Best wishes for your idea
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