The Aussie was sharply lower on Tuesday and filled Monday’s gap, after breaking back below 200SMA (0.7549).
Formation of Hanging Man yesterday generated bearish signal that resulted in bearish acceleration that so far retraced nearly 61.8% of 0.7490/0.7582 upleg.
Near-term technicals returned to bearish mode, shifting risk lower and pressuring next key supports at 0.7523/16 (100SMA / daily cloud base) loss of which is needed to confirm an end of recovery phase from 0.7490.
Upticks should be capped by 200SMA (also top of hourly cloud) and daily close below here will be seen as bearish signal to maintain downside pressure.
Res: 0.7541, 0.7549, 0.7569, 0.7582
Sup: 0.7516, 0.7490, 0.7471, 0.7453
