Aussie slumps on weak yuan; key support at 0.7310 under increased pressure

The Australian dollar dipped to 2 ½ week low at 0.7322 after strong bearish acceleration on Thursday took out support at 0.7360 (11/12 July double-bottom.
Today’s big drop was triggered by fresh weakness of Chinese yuan which hit one-year low against the US dollar and further extension is expected keep the Aussie under increased pressure for test of key support at 0.7310 (02 July low, the lowest from 21 Nov 2017).
Negative sentiment is supported by bearish daily techs, which could result in further bearish acceleration on firm break below 0.732510 pivots (Fibo 61.8% of 0.6825/0.8135 uptrend / lows of 02 July / 21 Nov 2016).

Res: 0.7360; 0.7376; 0.7403; 0.7442
Sup: 0.7322; 0.7310; 0.7269; 0.7244