AUDUSD – bearish bias will remain intact while 10 SMA caps recovery attempts
Sideways mode dominates on Monday as Asian / early European action is shaped in tight Doji, due to Easter Monday’s thinned conditions.
Recovery attempts off last week’s low at 0.7642 (weekly cloud base) remain capped by falling 10SMA (currently at 0.7696) keeping risk shifted lower as daily techs are in firm bearish mode.
Current upside attempts could be seen as consolidation ahead of renewed attack at weekly cloud base, break of which would spark fresh extension of broader fall from 0.8135 and expose key supports at 0.7500.
Break and close above 10SMA would delay bears for extended recovery, but limited upside could be expected and stronger upticks should remain capped by falling 20SMA (currently at 0.7753).
Res: 0.7696; 0.7706; 0.7753; 0.7779
Sup: 0.7671; 0.7642; 0.7600; 0.7586