AUDUSD – extended pullback cracks key 0.80 support, threatening for deeper correction

AUDUSD – extended pullback cracks key 0.80 support, threatening for deeper correction

The Australian dollar holds in red for the fourth straight day and extends pullback from new high at 0.8135 (26 Jan).
Today’s bearish acceleration broke below 10SMA (0.8044) and cracked next pivot at 0.80 zone (0.8010 – Fibo 38.2% of 0.7807/0.8135 upleg / 0.80 – psychological support).
Fresh weakness is generating bearish signal and showing strong threats for broader uptrend as close below 0.80 would signal deeper correction and larger bulls on hold for some time.
Further easing would face support at 0.7975 (rising 20SMA) and could extend towards next key support at 0.7892 (Fibo 38.2% of entire 0.7500/0.8135, 11 Dec / 26 Jan rally).
Stronger dollar on hawkish Fed and south-heading indicators on daily chart support the notion.
Conversely, return and close above 10SMA is needed to sideline rising bearish threats.

Res: 0.8044; 0.8067; 0.8100; 0.8135
Sup: 0.8000; 0.7975; 0.7936; 0.7892