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   “¢   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