- AUD/USD holds ground near intraday low, keeps downside break of three-day-old rising trend line.
- Bearish MACD signals hint at further weakness towards two-week-long channel’s support.
AUD/USD remains pressured around 0.7430, down 0.37% intraday, as European traders brace for Monday’s work after a sluggish start to the week.
The Aussie pair’s clear downside break of an ascending trend line from September 01 joins the bearish MACD signals to keep the sellers hopeful even as a bit broader rising channel challenges the quote’s downside.
It’s worth noting that 100-HMA adds strength to the 0.7377-75 support while the 0.7400 threshold acts as an intermediate halt during the fall.
Also acting as the key downside support past 0.7375 is the 200-HMA level of 0.7324.
On the flip side, a corrective pullback beyond the support-turned-resistance line, near 0.7450, will aim for the stated rising channel’s upper line, around 0.7480.
Should AUD/USD buyers manage to cross the 0.7480 hurdle, the 0.7500 threshold will validation the quote’s further upside towards tops marked during July and late June, respectively around 0.7600 and 0.7620.
AUD/USD: Hourly chart
Trend: Further weakness expected