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AUDUSD – Close Below 200SMA And Penetration Into Daily Cloud Generated Strong Bearish Signal

Extended pullback from 0.7739 high closed below 200SMA and penetrated daily cloud (cloud top lies at 0.7515), generating another strong bearish signal.

The pair came under increased pressure that signals further extension of corrective phase of 0.7158/0.7739 rally that already broke below its 38.2% retracement level at 0.7517.

Meantime, corrective upticks, signaled by oversold slow stochastic, should remain capped under daily Tenkan-sen (currently at 0.7593).

US jobs data are expected to give more clues about near-term action.

Res: 0.7529, 0.7568, 0.7587, 0.7593
Sup: 0.7515, 0.7489, 0.7448, 0.7426

Windsor Brokers Ltd
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