AUD/USD has broken major resistance 0.7900 (false break out) and started retreating from that level. Overall trend is slightly weak as long as 0.7820 holds.
On the upside any break above will extend gains to 0.7850/0.7900 in short term.
Major trend reversal level 0.7925.
The pair’s minor support is around 0.7735 (24th Feb low) and below it can reach 0.7690/0.7645.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell AUD/USD around 0.7800, SL 0.7851, Targets 0.7695/0.7645.
On the upside any break above will extend gains to 0.7850/0.7900 in short term.
Major trend reversal level 0.7925.
The pair’s minor support is around 0.7735 (24th Feb low) and below it can reach 0.7690/0.7645.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell AUD/USD around 0.7800, SL 0.7851, Targets 0.7695/0.7645.