The Aussie stays in red on Monday and extends losses below 0.7600, coming ticks ahead of last week’s low at 0.7585.
Larger pullback from 0.7747 was so far contained here (support is formed by Fibo 61.8% of 0.7489/0.7747 rally), with limited recover (capped at 0.7677) and subsequent weakness threatening for firm break below 0.7585 pivot) bearish signal) for retest of another strong support at 0.7547 (200SMA).
The price is back into thick daily cloud (spanned between 0.7448 and 0.7651) after being unable to hold above the cloud.
Daily studies are weakening and supportive for further easing, with 0.7585 seen as key point.
South-turned Tenkan-sen offers solid resistance at 0.7636, guarding upper pivot at 0.7651 (daily cloud top) which is expected to cap extended upticks.
Res: 0.7636, 0.7651, 0.7685, 0.7709
Sup: 0.7585, 0.7547, 0.7506, 0.7489
