AUD/USD Technical Analysis: Bears now await a sustained break below 0.7100 mark/ascending trend-line support

   •  The pair edged lower for the fourth consecutive session and extended last week's rejection slide from the very important 200-day SMA and a subsequent break through a short-term ascending trend-channel.

   •  The downward momentum has now dragged the pair closer to the 0.7100 round figure mark, which coincides with a support marked by a short-term ascending trend-line extending from early March swing lows.

   •  Meanwhile, technical indicators on the daily chart have just started gaining negative momentum but are already pointing to slightly oversold conditions on hourly charts and thus, warrant some near-term consolidation.

   •  However, sustained weakness below the mentioned trend-line support would mark a bearish breakdown and pave the way for an extension of the ongoing slide towards the 0.7070-65 horizontal support area. 

AUD/USD daily chart


Today last price 0.711
Today Daily Change -0.0024
Today Daily Change % -0.34
Today daily open 0.7134
Daily SMA20 0.7129
Daily SMA50 0.7113
Daily SMA100 0.7132
Daily SMA200 0.7187
Previous Daily High 0.7155
Previous Daily Low 0.7128
Previous Weekly High 0.7206
Previous Weekly Low 0.7136
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7138
Daily Fibonacci 61.8% 0.7144
Daily Pivot Point S1 0.7123
Daily Pivot Point S2 0.7112
Daily Pivot Point S3 0.7096
Daily Pivot Point R1 0.715
Daily Pivot Point R2 0.7166
Daily Pivot Point R3 0.7177



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