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AUD/USD chart - Trading View
AUD/USD was trading 0.30% lower on the day at 0.7600 at around 05:30 GMT, outlook is bearish.
The pair is extending previous session's weakness and is currently holding support at daily cloud base.
Risk-off intensifies amid vaccine fears as well as geopolitical and trade worries emanating from China, North Korea.
Prevalent risk-off mood benefitted the safe-haven US dollar and further drove flows away from the perceived riskier assets like the Aussie.
The major is extending weakness after doji formation on the previous week's candle. Oscillators are biased lower.
Analysis of GMMA indicator shows near-term moving averages have turned bearish. Break below daily cloud will drag the pair lower.
Next immediate support lies at 110-EMA at 0.7571. Further weakness will see test of 23.6% Fib at 0.7417 ahead of 200-DMA at 0.7357.
