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   “¢   The pair struggled to capitalize on the recent positive momentum and faced rejection near the 0.7100 round figure mark in wake of sluggish Chinese industrial production data.

   “¢   The mentioned handle also nears 50% Fibonacci retracement level of the 0.7199-0.7002 recent downfall and should continue to act as a key hurdle capping any attempted up-moves.

   “¢   Meanwhile, the fact that the pair seems to have found acceptance below important intraday moving averages – 50, 100 & 200-hour SMAs, clearly points to increasing selling pressure.

   “¢   Bearish technical indicators on hourly/daily charts add credence to the bearish set-up, though traders might await a sustained break through 23.6% Fibonacci retracement level support.

AUD/USD 1-hourly chart


       Today Last Price:  0.7051
       Today Daily change:  -43  pips
       Today Daily change %:  -0.61%
       Today Daily Open:  0.7094
       Daily SMA20:  0.7105
       Daily SMA50:  0.7136
       Daily SMA100:  0.7161
       Daily SMA200:  0.7232
       Previous Daily High:  0.7099
       Previous Daily Low:  0.7049
       Previous Weekly High:  0.7118
       Previous Weekly Low:  0.7002
       Previous Monthly High:  0.7285
       Previous Monthly Low:  0.7053
       Daily Fibonacci 38.2%:  0.708
       Daily Fibonacci 61.8%:  0.7068
       Daily Pivot Point S1:  0.7062
       Daily Pivot Point S2:  0.7031
       Daily Pivot Point S3:  0.7012
       Daily Pivot Point R1:  0.7112
       Daily Pivot Point R2:  0.7131
       Daily Pivot Point R3:  0.7162