The Aussie dollar holds in red for the third consecutive day and threatens of retesting 0.7345 base, as persisting fears about trade war escalation keep Aussie under pressure.
Fresh weakness from 0.7443 double top (22/25 Jun) where recovery from 0.7345 stalled, retraced the biggest part of 0.7345/0.7443 recovery leg and focus key supports at 0.7345 (19/21 Jun lows) and 0.7325 (Fibo 61.8% of 0.6825/0.8135 2016/2018 ascend).
Break here would generate strong bearish signal for continuation of larger fall from 0.8156 (2018 high).
Daily techs in full bearish setup maintain scenario, with broken 5SMA offering initial barrier at 0.7397 and falling 10SMA (which tracks descend since mid-June and currently at 0.7407) expected to cap upticks.
Res: 0.7397, 0.7407, 0.7423, 0.7443
Sup: 0.7361, 0.7345, 0.7325, 0.7283
