AUD/USD technical analysis: Declines towards 4H 100MA, 5-week old support-line

• AUD/USD drops to 3-day low while being just above 23.6% Fibonacci retracement of June-July upside.
• 4H 100MA and more than a month old rising support-line flashes on sellers’ radar.

The AUD/USD pair’s sustained break of 8-day long rising trend-line drags it to 0.7025 during early Tuesday.

The pair now rests of 23.6% Fibonacci retracement of June-July advance, a break of which can exert additional downward pressure towards 100-bar moving average (4H 100MA), at 0.7000, followed by 50% Fibonacci retracement around 0.6960.

Though, an ascending trend-line since mid-June, at 0.6952, will create disturbances during the further weakness of the quote.

Alternatively, 0.7050 and latest high surrounding 0.7082 hold the keys to the pair’s run-up towards 200-day exponential moving average (EMA) level of 0.7100.

AUD/USD 4-hour chart

Trend: Bearish