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   “¢   The pair extended its steady intraday decline through the mid-European session and weakened further below mid-0.7100s, eroding a major part of the previous session’s goodish up-move.

   “¢   The intraday downtick has now dragged the pair to confluence support – comprising of the lower end of a descending trend-channel formation on short-term charts and 100-hour SMA.

   “¢   Technical indicators on the 1-hourly chart have just started gaining negative traction, albeit bullish/neutral oscillators on higher time-frames might help limit deeper losses.

   “¢   Hence, traders are likely to wait for a convincing break below the mentioned support before positioning for some additional weakness towards the 0.7130-25 region en-route the 0.7100 handle.

AUD/USD 1-hourly chart


       Today Last Price:  0.715
       Today Daily change %:  -0.29%
       Today Daily Open:  0.7171
       Daily SMA20:  0.7152
       Daily SMA50:  0.7132
       Daily SMA100:  0.7163
       Daily SMA200:  0.7261
       Previous Daily High:  0.7185
       Previous Daily Low:  0.7128
       Previous Weekly High:  0.7207
       Previous Weekly Low:  0.707
       Previous Monthly High:  0.7296
       Previous Monthly Low:  0.6684
       Daily Fibonacci 38.2%:  0.7163
       Daily Fibonacci 61.8%:  0.715
       Daily Pivot Point S1:  0.7138
       Daily Pivot Point S2:  0.7104
       Daily Pivot Point S3:  0.7081
       Daily Pivot Point R1:  0.7195
       Daily Pivot Point R2:  0.7218
       Daily Pivot Point R3:  0.7252