FxWirePro: AUD/USD slips for the 5th straight session, eyes 110-EMA support at 0.70
AUD/USD chart - Trading View
AUD/USD was trading 0.31% lower on the day at 0.7048 at around 04:10 GMT, outlook bearish.
The pair was extending weakness for the 5th straight session to hit 9-week lows at 0.7047.
The pair has failed to extend break above 200-W MA and as prices retrace below the crucial mark, technical indicators have turned bearish again.
Poor Australia data and renewed U.S. dollar strength keep downside pressure for the pair.
Immediate support lies at 110-EMA at 0.7007. Break below will see drag till 200-DMA at 0.6771.
Any recovery attempts will find stiff resistance at 200H MA at 0.7253. Decisive break above could change near-term outlook.