The AUDUSD remains in red and pressuring key supports at 0.6761/58 (new two-year low, posted yesterday / 50% retracement of 0.5509/0.8007 rally).
Soured risk sentiment on growing recession fears that boosted demand for safe-haven dollar, keep the Aussie dollar in defensive mode.
Bearish daily techs (rising negative momentum, south-heading indicators, MA’s in bearish setup) add to negative outlook.
Violation of 0.6761/58 pivots is likely to spark fresh bearish acceleration on negative signal and triggering stops parked below, with possible extension towards 0.6463 (Fibo 61.8% / monthly cloud base).
Near-term action should remain below falling 10DMA (0.6870) which tracks the downtrend since June 9, to keep bears intact.
Res: 0.6832; 0.6850; 0.6870; 0.6922
Sup: 0.6758; 0.6647; 0.6601; 0.6547
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