The AUD/USD pair fell down to 0.7603 this Monday, maintaining a short term negative tone ahead of the US opening, as following bounces have been contained by selling interest around 0.7740. The Aussie downward tone is being blame on commodities' weakness, as both, gold and oil remain trading at Friday's lows. Technically, the 1 hour chart shows that the risk has turned towards the downside with the price developing below a bearish 20 SMA, whilst the technical indicators head lower below their mid-lines. The 4 hours chart also presents a bearish tone, given that the price is below a bearish 20 SMA, whilst the Momentum indicator heads lower below the 100 level, and the RSI indicator hovers around 47.
Support levels: 0.7600 0.7570 0.7540
Resistance levels: 0.7740 0.7775 0.7800