Technical Analysis: AUDUSD bears cheer risk-off mood below 0.7230/35 resistance confluence
AUDUSD's bounces off 61.8% Fibonacci retracement, amid oversold RSI conditions, failed to cross the previous support line, which in turn keeps the sellers hopeful around 0.7215 during the early Tuesday. As a result, bears are waiting for further downside under the key Fibonacci retracement support of 0.7200 before taking any fresh positions. While doing so, 0.7190 and the late-August low near 0.7135 stay on their radars ahead of the previous month's bottom surrounding 0.7075.
Not only does the aforementioned resistance line, but 200-bar EMA also highlights 0.7230/35 as the key upside barrier. Additionally, a 50% Fibonacci retracement level of 0.7245 and September 17 bottom close to 0.7255 are acting as extra upside barriers before convincing the buyers to retake controls and target a move beyond the mid-month peak near 0.7345.