Sasha Singh
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AUDUSD : Resistance From the Previous Support

(AUDUSD : 4 Hour Chart)

AUDUSD seems like changing the trend from uptrend to downtrend as signaled by the contracting 100 day and 200 day SMAs. Also the pair found resistance from the previous support level at .9325. On the stochastic oscillator the %K line has just crossed above the %D showing that the pair might follow downtrend. However the nearest support level the pair will find is at .9273 which was previously acting as resistance for the pair from which the pair should rise.

 A separate report showed that the personal sending declined by .1% last month missing the economists expectation for an increase of .2% rise after a 1% increase in March. This report should provide some support to the pair. We might also see some change after the release of Chicago PMI (at 9:45 AM EDT) and UoM Consumer Sentiment (at 9:55 AM EDT).