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   “¢   The pair failed to capitalize on the weekly bullish gap and once again, for the third straight session, faced rejection near 50-hour SMA despite the latest US-China trade optimism.  

   “¢   The fact that the pair remains well below important intraday moving averages – 50, 100 & 200-hour SMA, clearly points to an extension of the recent bearish slide from the 0.7200 handle.

   “¢   Bearish technical indicators on hourly/daily charts point further reinforce the negative outlook, albeit seemed reluctant to place aggressive bid ahead of Tuesday’s RBA decision.

   “¢   Hence, it would be prudent to wait for a convincing break through a strong horizontal support near the 0.7070-65 region before positioning for any further near-term depreciating move.

AUD/USD 1-hourly chart


       Today Last Price:  0.7084
       Today Daily change %:  0.13%
       Today Daily Open:  0.7075
       Daily SMA20:  0.7131
       Daily SMA50:  0.7133
       Daily SMA100:  0.7164
       Daily SMA200:  0.7252
       Previous Daily High:  0.7123
       Previous Daily Low:  0.7069
       Previous Weekly High:  0.7199
       Previous Weekly Low:  0.7069
       Previous Monthly High:  0.7285
       Previous Monthly Low:  0.7053
       Daily Fibonacci 38.2%:  0.709
       Daily Fibonacci 61.8%:  0.7102
       Daily Pivot Point S1:  0.7055
       Daily Pivot Point S2:  0.7035
       Daily Pivot Point S3:  0.7001
       Daily Pivot Point R1:  0.7109
       Daily Pivot Point R2:  0.7143
       Daily Pivot Point R3:  0.7163