50-DMA caps upside in AUD/USD, scope for test of 0.7498 100-DMA
AUD/USD recovery attempts fail at 50-DMA (0.7559).
Pair slips below 0.7550, bias lower.
Major support by channel base at 0.7525, break below will see drag upto 100-DMA at 0.7498.
Techs support downside, we recommend selling rallies.
Bearish invalidation only above 0.76 (4H 20MA), pair can then test 20-DMA at 0.7635.
HIA new home sales data from Australia was weak. New home sales in Australia plunged to a decade-low during the month of July.
Hawkish comments from Fed’s Yellen on Friday to keep USD supported.
Focus now on US personal spending and income report due later today.
Pair slips below 0.7550, bias lower.
Major support by channel base at 0.7525, break below will see drag upto 100-DMA at 0.7498.
Techs support downside, we recommend selling rallies.
Bearish invalidation only above 0.76 (4H 20MA), pair can then test 20-DMA at 0.7635.
HIA new home sales data from Australia was weak. New home sales in Australia plunged to a decade-low during the month of July.
Hawkish comments from Fed’s Yellen on Friday to keep USD supported.
Focus now on US personal spending and income report due later today.
