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- AUD is one of the worst performing G10 currencies in the past one year on account of weak Chinese economy and lower commodity prices.
- China's flagging economy and subsequent devaluation of its currency is dragging the AUD further down.
- Aussie has broken minor support 0.7010 and declined till 0.69269. The pair's major support is around 0.6900 and break below targets 0.676/0.6590.
- Overall trend is still bearish as long as resistance 0.7385.
- The minor resistance is around 0.7060/0.7170/0.7300.
It is good to sell on rallies around 0.7200 with SL around 0.7380 for the TP of 0.676/0.6590.
