AUDUSD looking to trade below the 0.7200 zone

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The bearish outlook remains alive at AUDUSD, at least in H1 chart, where we’re seeing a pullback from 200 SMA until support level of 0.7243.

Aussie should break that zone in order to fall until the 0.7186, where a very strong support level in the short-term is placed. Also, bear in mind the daily pivot point level (0.7341) is above the current pair trading’s price.

At the moment, we shouldn’t discard any rebounds which could be holding at this current stage and in that case, AUDUSD will test the pivot point zone.

MACD indicator is entering at negative territory.

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