AUD/USD chart - Trading View
AUD/USD was trading 0.52% lower on the day at 0.7452 at around 10:20 GMT, bias bearish.
The pair failed to build onto Friday's gains and is set to resume weakness, extending bearish bias for the 3rd straight week.
Fed Chair Jerome Powell's semi-annual congressional testimony on Wednesday and Thursday will be looked upon for clues about the Federal Reserve's policy outlook.
Thursday's release of Australia's monthly employment data will also be watched to determine the pair's next directional move.
Technical bias is bearish. RSI nicely converges with downside price action. The pair is below cloud, and major moving averages.
On the weekly charts, 55-EMA is offering strong support at 0.7452, break below will drag the pair lower.
Price action is hovering around 23.6% Fib, next support for bears lies at 110-week EMA at 0.7305.
