- AUD/USD steps back from the key EMAs while attacking the 0.7100 threshold.
- Bearish MACD favors sellers to revisit 100-day EMA, an ascending trend line from June.
AUD/USD drops to 0.7100, down during the early Thursday. In doing so, the pair consolidates the biggest gains in two weeks while taking a U-turn from 21-day and 50-day EMAs amid the bearish MACD signals.
Hence, sellers are likely to revisit the joint of a multi-day-old support line and the key EMA around 0.7065/60 during the further downside.
However, AUD/USD weakness below 0.7060 will direct bears towards the 0.7000 psychological magnet.
Meanwhile, an upside clearance of the 0.7135/45 area comprising the aforementioned EMAs will have to cross a falling trend line from September 01, at 0.7185 now, to recall the bulls.
In doing so, the AUD/USD traders can aim for the monthly top of 0.7244 while also eyeing to clear the 0.7200 round-figure intermediate resistance.
AUD/USD daily chart
Trend: Bearish
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