- AUD / USD falls amid cautious market sentiment, ignores UK-Australian trade deal.
- The pair breaks down a triangle pattern on the 1 hour chart.
- The bearish RSI points to an extension of the decline towards 0.7650, following the breakout of 0.7700.
AUD / USD moved lower during the European session on Tuesday, testing recent range lows near the 0.7690 region, as bears seek to regain full control amid cautious sentiment in the markets.
From a short-term technical point of view, AUD / USD has confirmed the breakout of a triangle in the last hour after a sustained close below the uptrend line support at 0.7696.
The next bearish target appears at the psychological barrier of 0.7650, below which the June 3 low of 0.7644 could be visited.
The RSI on the 1 hour chart is pointing down below the midline, allowing more room for further declines.
AUD / USD 1 hour chart
On the other hand, the bulls need to regain the triangle support, now turned into resistance, in order to embark on any meaningful rally.
Higher up, the bearishly sloping 21 hour moving average at 0.7708 will test bullish engagement.
AUD / USD additional levels
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