#AUDUSD @ 0.68752 -imp levels: takes offers to extend Friday’s pullback from one-week high.

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• AUD/USD takes offers to extend Friday’s pullback from one-week high.
• Downbeat oscillators, U-turn from 100-DMA keep sellers hopeful.
• 78.6% Fibonacci retracement may test bears before highlighting the yearly low.

The pair currently trades last at 0.68752.

The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.

AUD/USD remains on the back foot at 0.6861, extending Friday’s south-run while attacking a 2.5-month-old horizontal support area amid Monday’s Asian session. In doing so, the Aussie pair marks another attempt to conquer the key support zone, after failing the last week.

It’s worth noting that the oscillators like RSI (14) and the MACD appear more bearish during this time and can help the quote to conquer the aforementioned key support zone around 0.6855-50.

Following that, the 78.6% Fibonacci retracement level of July-August upside, near 0.6780, may act as an intermediate halt during the expected south-run targeting the yearly low surrounding 0.6680 marked in July.

On the contrary, the 50% Fibonacci retracement level near 0.6910 guards the quote’s immediate recovery ahead of the 100-DMA resistance close to 0.7020.

Should the quote crosses the 0.7020 hurdle, the early August high near 0.7050 may test the AUD/USD bulls before highlighting the monthly peak of 0.7136.

Overall, AUD/USD bears keep the reins but the quote’s further downside hinges on its ability to conquer the 0.6850 support.

Trend: Further weakness expected

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6864 at the time of writing. Pair opened at 0.6912 and is trading with a change of -0.69% % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.697, 50 SMA 0.6916, 100 SMA @ 0.7028 and 200 SMA @ 0.7133.

The previous day high was 0.701 while the previous day low was 0.6888. The daily 38.2% Fib levels comes at 0.6934, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6963, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6863, 0.6814, 0.6741
• Pivot resistance is noted at 0.6985, 0.7059, 0.7108

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