AUDUSD – daily cloud base caps recovery attempts for now

The Aussie dollar remains bid in early Wednesday’s trading and ticked higher but still holding below daily cloud base (0.7812) which marks key barrier.
Falling 10SMA (0.7809) caps for now and the pair may show further hesitation under thick daily cloud which weighs heavily.
Near-term studies are mixed while dailies are negative and suggest limited correction before broader bears continue.
Penetration into cloud could climb towards 0.7840 and key barrier at 0.7874 (Fibo 38.2% of 0.8102/0.7732 downleg / 04 Oct lower top) in extension.
On the other side, strong downside risk will remain in play while daily cloud caps.
Fed minutes are expected to give more clues about near-term direction. Hawkish tone would spark fresh extension of broader downtrend from 0.8124 peak and expose targets at 0.7672 (200SMA) and 0.7632 (Fibo 61.8% of 0.7328/0.8124 rally).

Res: 0.7812; 0.7820; 0.7840; 0.7874
Sup: 0.7772; 0.7748; 0.7733; 0.7670