The Aussie dollar eases on Tuesday after repeated upside rejections under 0.7967 (Fibo 61.8% of 0.8065/0.7807 downleg), which could generate bearish signal of recovery rally stall on deeper pullback. In addition, falling weekly 200SMA (0.7978) continues to weigh heavily on near-term price action. Full bearish setup of daily studies has been dented on return below 20SMA (0.7924), as fresh weakness pressures 0.7900 handle, with stronger bearish signal to be expected on bearish extension below 10SMA/daily Tenkan-sen (0.7891/85). Dip-buying scenario would be favored while the price stays above daily Tenkan-sen.
Res: 0.7950, 0.7967, 0.7978, 0.8000
Sup: 0.7900, 0.7885, 0.7867, 0.7838
