The AUDUSD stays in purple and pressuring key helps at 0.6761/58 (new two-year low, posted yesterday / 50% retracement of 0.5509/0.8007 rally).
Soured danger sentiment on rising recession fears that boosted demand for safe-haven greenback, hold the Aussie greenback in defensive mode.
Bearish every day techs (rising unfavorable momentum, south-heading indicators, MA’s in bearish setup) add to unfavorable outlook.
Violation of 0.6761/58 pivots is more likely to spark recent bearish acceleration on unfavorable sign and triggering stops parked beneath, with doable extension in the direction of 0.6463 (Fibo 61.8% / month-to-month cloud base).
Close to-term motion ought to stay beneath falling 10DMA (0.6870) which tracks the downtrend since June 9, to maintain bears intact.
Res: 0.6832; 0.6850; 0.6870; 0.6922
Sup: 0.6758; 0.6647; 0.6601; 0.6547
