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AUD/USD Short term Outlook

FX:AUDUSD   Australian Dollar / U.S. Dollar
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AUD/USD has retreated till 0.7975 after breaking of major support of 0.8030. Overall trend is bearish as long as resistance 0.8050 holds.

On the upside minor resistance is around 0.8050 and any break above will target 0.8160/0.8300.

The pair’s minor support is around 0.7970 and break below will take the pair to target 0.7869/0.7780 in short term.

Indicators ( Daily chart )
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell

Recommendation: Sell AUD/USD 0.7970, SL 0.8051, Targets 0.7869/0.778.

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