AUD/USD Technical Analysis: Confirms a fresh bearish break through a flag chart pattern

   •  The pair struggled to capitalize on late-Friday/early Monday attempted recovery move and remains within striking distance of over one-month lows set in the previous session.

   •  Given last week's slump, the corrective bounce along an ascending trend-channel constituted towards the formation of a bearish continuation flag chart pattern on the 1-hourly chart.

   •  With technical indicators on hourly/daily charts holding in the bearish territory, weakness below the said trend-channel now seems to have confirmed a fresh bearish breakdown.

   •  Hence, a follow-through weakness, possibly towards challenging the key 0.7000 psychological mark, amid resurfacing US-China trade tensions, now looks a distinct possibility.

AUD/USD 1-hourly chart

AUD/USD

Overview:
    Today Last Price: 0.7074
    Today Daily change %: -0.16%
    Today Daily Open: 0.7085
Trends:
    Daily SMA20: 0.7174
    Daily SMA50: 0.7156
    Daily SMA100: 0.7169
    Daily SMA200: 0.7283
Levels:
    Previous Daily High: 0.7107
    Previous Daily Low: 0.706
    Previous Weekly High: 0.7265
    Previous Weekly Low: 0.706
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7078
    Daily Fibonacci 61.8%: 0.7089
    Daily Pivot Point S1: 0.7061
    Daily Pivot Point S2: 0.7037
    Daily Pivot Point S3: 0.7014
    Daily Pivot Point R1: 0.7108
    Daily Pivot Point R2: 0.7131
    Daily Pivot Point R3: 0.7155

 

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