Fresh selling is expected to show on a challenge of price and downtren resistance at 0.7722/33.
AUDUSD has pushed higher, breaking above the recent high at 0.7677. This turns the immediate bias higher for a challenge of the early September peak and trendline resistance at 0.7722/33 where we expect to find a cap. However, a direct break higher can see a chellenge of the August high at 0.7756 at first, followed by a tougher barrier at 0.7835/50.
Near-term support moves to 0.7641, with a break below 0.7580 needed to turn the risk lower for 0.7530/28 at first followed by 0.7475.
We set sell limit at 0.7710, stop/reverse above 0.7733 for 0.7600
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