The Aussie dollar is in red on Monday as reversal signal is forming following strong upside rejection at over three-month high at 0.7712 on Friday.
Bearish signals are also coming from daily RSI / slow stochastic, which reversed from overbought territory.
Fresh weakness penetrated into thick hourly cloud and pressuring pivotal support at 0.7645 (hourly cloud base / Fibo 38.2% of 0.7353/0.7712), loss of which could trigger deeper pullback towards 0.7623 (daily Tenkan-sen) and 0.7605 (Fibo 61.8% / 10SMA), where correction should find support to keep larger bulls intact.
Today’s close in red is needed to confirm scenario
Res: 0.7678, 0.7697, 0.7712, 0.7734
Sup: 0.7650, 0.7623, 0.7605, 0.7582
