AUDUSD – recovery shows strong signs of stall at 20 SMA barrier
Recovery rally from near-term base that is forming at 0.7500 is shows signs of losing traction after being repeatedly capped by 20SMA (0.7575).
Overall bearish structure warns of recovery rally stall, as solid offers at 0.7575/0.7600 zone (20SMA / 30SMA) maintain pressure.
Repeated close below 20SMA would be an additional bearish signal for fresh weakness and retest of key near-term support at 0.7500, with sustained break here to signal bearish continuation towards another strong support at 0.7482 (bull-trendline off 0.6826, 20 Jan 2016 low).
Conversely, firm break above 0.7600 resistance zone would signal extended recovery and expose key near-term barrier at 0.7653 (05 Dec high).
Res: 0.7574; 0.7600; 0.7633; 0.7653
Sup: 0.7552; 0.7518; 0.7500; 0.7482