FxWirePro: AUD/USD repeated failure around 0.73 handle highlights bearish trend

AUD/USD has dropped back from overnight highs at 0.7298 and slipped below the 200 SMA on the hourly charts.

• Repeated failures around the 0.73 handle on the previous two sessions bring the broader bearish trend back into the picture 
   
• Earlier in the day, Australia Westpac leading index came in at m/m 0.1% m/m in September vs -0.3% in the previous month
   
• Markets continue to monitor the RBA's mood (upbeat) and US data in respect of timings of Central Bank actions for further cues
   
• Aussie remains underpinned by the latest RBA minutes which sounded upbeat on the Australian economic prospects, also noting that the AUD level is supporting the economic re-balancing
   
• Trendline resistance is located at 0.7280, breaks beyond could take the pair to 0.7385 Fibo retracement, a key upside target
   
• On the downside, minor trendline support is located at 0.7250, breaks below could target 0.7240 levels