AUD/USD fails to hold above the 0.71 handle, upside bias seems to have lost momentum, pair trades largely unchanged at around 0.7090 levels.
- The pair is extending declines after rejection at strong trendline resistance on Feb 4th.
- Techs suggest downside for the pair, Stochs, RSI and MACD are biased lower, tests of 0.6973 likely.
- Daily charts show a bearish 5-DMA crossover on the 10-DMA, which further reinforces downside.
- Immediate resistance is seen at 0.7099 (10-DMA), while support on the downside is located at 0.7038 (Feb 10th lows).
Recommendation: Good to sell rallies around 0.7095, SL: 0.7175, TP: 0.7037/0.6975
