Chart - Courtesy Trading View
AUD/USD was trading 0.10% lower on the day at 0.7180 at around 05:10 GMT, outlook bearish.
The pair is consolidating previous session's massive slump and is on track to test 200-week MA support at 0.7150.
Surging COVID-19 cases in China raise fears of slump in the mainland's economic growth in the first quarter, weighing on investors' confidence.
Technical indicators for the pair have turned bearish. Price action is now well below 200H MA. Scope for further downside.
Hopes that talks between Russia and Ukraine due to resume on Tuesday could provide a resolution to the conflict provided some downside cushion.
Focus now on the FOMC meeting due Wednesday where the central bank is expected to hike interest rates for the first time in three years to offset rising inflation.
Major Support Levels:
S1: 0.7150 (200-week MA)
S2: 0.7140 (Cloud top)
S3: 0.7123 (Lower BB)
Major Resistance Levels:
R1: 0.7218 (55-EMA)
R2: 0.7243 (110-EMA)
R3: 0.7266 (5-DMA)
Summary: AUD/USD poised for further weakness. Dip till 0.7150 likely. Watch out for breach below 200-week MA for further downside.


BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD moves lower on weak UK data
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro- Major European Indices
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro- Major Crypto levels and bias summary 



