AUD/USD Technical Analysis: Tucking into fresh weekly lows near 0.7060 as bearish trendline remains

The last twenty-four hours have been poor to the AUD/USD, with the Aussie slipping back down after rejecting off of a descending trendline, formed off of last Friday's peak at 0.7150, a major consolidation and resistance zone.

AUD/USD, M5

The past week has seen the AUD/USD accelerate its bearish stance, declining outside the low end of the pair's declining channel, and the lower boundary could turn into a key resistance level.

AUD/USD, M30

The AUD/USD has seen a bearish lean in the past month as well, declining into a short side trendline break from 0.7090, and the pair could remain constrained near the last swing low near 0.7050 unless bears gather enough momentum to break the Aussie into a fresh 2018 low.

AUD/USD, H4