AUDUSD – bears are taking a breather above weekly 100SMA
The pair trades within tight consolidation on Monday after broader bears found footstep at 0.7540 zone (weekly 100SMA).
Stronger bounce cannot be ruled out as slow stochastic is reversing from oversold territory on daily chart while RSI is at the oversold zone border.
Upticks should be ideally capped by falling 10SMA (0.7621) with extended recovery to challenge falling 20SMA (0.7655) but needed to stay below 200SMA (0.7695).
Only sustained break here would neutralize short-term bears for stronger correction of the downleg from 0.8124 (08 Sep peak).
Res: 0.7585; 0.7621; 0.7655; 0.7695
Sup: 0.7535; 0.7516; 0.7496; 0.7460