Short AUD/USD break below 0.7490, target 0.7420

AUD/USD downside finds strong support by 110-EMA at 0.7494.

Momentum studies are bearish, break below 0.7494 targets 0.7420.

Daily price action has dipped into daily cloud.

Recovery attempts were weak, pair unable to hold gains at 0.7533.

Major support levels - 0.7494 (110-EMA), 0.7420 (double bottom July 27 and June 9), 0.74, 0.7380 (200-DMA).

Major resistance levels - 0.7525 (cloud top), 0.7561 (50-DMA), 0.76 (trendline), 0.7627 (20-DMA).

Good to short break below 0.7490, SL: 0.7530, TP: 0.7420/ 0.74