AUD/USD trades with a major downward bias.
The pair has broken major supports:- 1) Trendline @ 0.7555, 2) 55-EMA @ 0.7525, 3) 110-EMA @ 0.7415, 4) 200-DMA @ 0.7259.
The pair has edged higher from session lows at 0.7245, and holds above 61.8% Fib retrace of Jan to Apr rally at 0.7212.
Strong US data on Friday (retail sales and consumer sentiment soared) along with Tuesday's upcoming RBA minutes likely to cap upside in the pair.
Close below 200-DMA at 0.7259 will see test of 0.7212. Break below could see test of 0.7043 (78.6% Fib).
Good to go short on close below 0.7259, SL: 0.7330, TP: 0.7210/0.7150/0.71/0.7050
The pair has broken major supports:- 1) Trendline @ 0.7555, 2) 55-EMA @ 0.7525, 3) 110-EMA @ 0.7415, 4) 200-DMA @ 0.7259.
The pair has edged higher from session lows at 0.7245, and holds above 61.8% Fib retrace of Jan to Apr rally at 0.7212.
Strong US data on Friday (retail sales and consumer sentiment soared) along with Tuesday's upcoming RBA minutes likely to cap upside in the pair.
Close below 200-DMA at 0.7259 will see test of 0.7212. Break below could see test of 0.7043 (78.6% Fib).
Good to go short on close below 0.7259, SL: 0.7330, TP: 0.7210/0.7150/0.71/0.7050
