AUD/USD is Heavy While Below Trendline
05 May 2016 23:05, GMTDaily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent comments regarding AUD/USD noted that “important resistance is around .78. Pronounced divergence with RSI also warns that the Aussie run may be nearing completion…the outside day bearish reversal on 4/21 is a good way to make at least a short term top. Weakness below .7500 (trendline) would bolster bearish prospects.” AUD/USD broke .7500. Focus is lower although former resistance at .7382 may provide interim support.
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