The Australian dollar extends weakness into third straight day and hit new one-week low on Monday.
Probe below pivotal support at 0.7195 (Fibo 38.2% of 0.7020/0.7302) reinforced by rising 10SMA, could generate fresh bearish signal on daily close below.
Stronger greenback, weak Asian and fresh fall of European stocks after positive start on Monday, add to negative outlook, as Aussie was also hurt by reduced risk appetite.
Weaker momentum on daily chart supports near-term bears which pressure next strong support at 0.7178 (base of thickening falling daily cloud), loss of which could further weaken the structure and risk extension towards 0.7145 (rising 20SMA) and 0.7128 (Fibo 61.8% of 0.7020/0.7302 / 30SMA).
Broken 5SMA marks solid resistance at 0.7239, which guards upper pivot at 0.7259 (falling 100SMA).
Res: 0.7218, 0.7239, 0.7259, 0.7300
Sup: 0.7178, 0.7161, 0.7145, 0.7128
