Aussie dollar falls to seven-month low as investors rush into safety

AUDUSD

The Australian dollar fell to seven-month low vs US dollar (0.7425) on Thursday morning, pressured by drop in global bond yields and RBA chief Lowe’s rejection of market calls for early tightening.
Fresh weakness broke below last Friday’s low (0.74440 confirming a lower top at 0.7598 (Tuesday’s spike high and bull-trap above 200DMA).
Formation of 20/200DMA death-cross adds to negative daily studies which support signals of bearish continuation.
Bears pressure pivotal supports at 0.7417/13 (Fibo 23.6% of 0.5509/0.8007 rally / former top of 1 Sep 2020), with clear break here to confirm bearish signal and open way for deeper fall, which could extend towards 200WMA (0.7238) on stronger acceleration.

Res: 0.7462; 0.7476; 0.7513; 0.7533
Sup: 0.7413; 0.7372; 0.7339; 0.7282