RES 4: 0.7750 (200 day 4HMA)
RES 3: 0.7698 (55 day 4HEMA)
RES 2: 0.7660 (Apr 1st high)
RES 1: 0.7615 (Tenken-Sen)
PRICE: 0.7570@ 8:54GMT
SUP 1: 0.7584 (100% projection of 0.79119 to 0.75594 from 0.79372)
SUP 2: 0.75594 (Mar 11th low)
SUP 3:0.7500
SUP 4: 0.7366 (161.8% projection of 0.79119 to 0.75594 from 0.79372)
Commentary:
AUD/USD is trading weaker on account of weak trade deficit data and rate cut expectations. Trade deficit widened for the third straight month to AUD -1.26bn compared to forecast of -1.25bn.
Overall trend is still weak as long as 0.7665 holds. It is good to sell on rallies around 0.7620 for the target of 0.7500 with stop around 0.7665
RES 3: 0.7698 (55 day 4HEMA)
RES 2: 0.7660 (Apr 1st high)
RES 1: 0.7615 (Tenken-Sen)
PRICE: 0.7570@ 8:54GMT
SUP 1: 0.7584 (100% projection of 0.79119 to 0.75594 from 0.79372)
SUP 2: 0.75594 (Mar 11th low)
SUP 3:0.7500
SUP 4: 0.7366 (161.8% projection of 0.79119 to 0.75594 from 0.79372)
Commentary:
AUD/USD is trading weaker on account of weak trade deficit data and rate cut expectations. Trade deficit widened for the third straight month to AUD -1.26bn compared to forecast of -1.25bn.
Overall trend is still weak as long as 0.7665 holds. It is good to sell on rallies around 0.7620 for the target of 0.7500 with stop around 0.7665