FxWirePro: AUD/USD slips below 21-EMA, Aussie under pressure amid risk-off tones

AUD/USD chart on Trading View used for analysis

• AUD/USD slipped below 21-EMA, trades 0.31% lower on the day at 0.7135 at 0520 GMT.
   
• Aussie under pressure amid risk-off tones in the wake of slowing global growth.
   
• The International Monetary Fund (IMF) trimmed global growth forecasts on Monday. 
   
• The IMF lowered estimates for growth in 2019 by 0.2 percentage points to 3.5%, its second downward revision.
   
• Technical studies for the pair remain bearish, upside rejected at 110-EMA and daily cloud.
   
• The pair now eyes next major support at 20-DMA at 0.7120. Break below will see further downside.
   
• Focus on Australia Jobs data foe further impetus. The Australian economy is expected to have added a 16.5k jobs in December.

Support levels - 0.7120 (20-DMA), 0.71

Resistance levels - 0.7151 (21-EMA), 0.7168 (55-EMA)

Recommendation: Watch out for break below 20-DMA to go short.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.