RES 4: 0.7785 (61.8% retracement of 0.7937 and 0.75322)
RES 3: 0.7738 (Apr 9th high)
RES 2: 0.7706 (Ichimoku cloud )
RES 1: 0.7642(200 day HMA)
PRICE: 0.75869 @ 07:31 GMT
SUP 1: 0.7600
SUP 2: 0.7570 (Apr 6th low)
SUP 3: 0.7530 (Apr 2nd low)
SUP 4: 0.7500
Commentary
AUD/USD has broken major support 0.7640 aftre release of China's trade data. China's trade surplus has dropped sharply to 3.1bn in Mar compared to forecast of 43.4 bn.Overall trend is weak as long as resistance 0.7650 holds.
On the downside minor support is around 0.7600 and break below will drag the pair further down till 0.7570/0.7530.
It is good to sell around 0.7620 for the target of 0.7530 with stop around 0.7650.
RES 3: 0.7738 (Apr 9th high)
RES 2: 0.7706 (Ichimoku cloud )
RES 1: 0.7642(200 day HMA)
PRICE: 0.75869 @ 07:31 GMT
SUP 1: 0.7600
SUP 2: 0.7570 (Apr 6th low)
SUP 3: 0.7530 (Apr 2nd low)
SUP 4: 0.7500
Commentary
AUD/USD has broken major support 0.7640 aftre release of China's trade data. China's trade surplus has dropped sharply to 3.1bn in Mar compared to forecast of 43.4 bn.Overall trend is weak as long as resistance 0.7650 holds.
On the downside minor support is around 0.7600 and break below will drag the pair further down till 0.7570/0.7530.
It is good to sell around 0.7620 for the target of 0.7530 with stop around 0.7650.