The Aussie dollar stands at the back foot on Tuesday and extends pullback from 0.7304 (21 Sep high).
Renewed US/China trade tensions and lower copper price weigh on Aussie, with fresh weakness pressuring pivotal supports at 0.7224/20 (rising 10SMA/ibo 38.2% of 0.7085/0.7304 recovery leg).
Sustained break here is needed to confirm reversal and open way for further retracement.
Weakening momentum studies and south-heading slow stochastic after reversing from overbought zone, support scenario.
Fed rate decision on Wednesday could provide more clues about pair’s near-term direction.
Res: 0.7252, 0.7265, 0.7281, 0.7305
Sup: 0.7220, 0.7205, 0.7194, 0.7168
