AUD/USD Technical Analysis: Further downside visible below 100-hour SMA

   •  The pair extended last week's rejection slide from the very important 200-day SMA and remained under some selling pressure for the second consecutive session on Monday.

   •  The intraday bearish slide found some support near 100-hour SMA, though the attempted rebound quickly ran out of steam amid a follow-through USD buying interest.

   •  Technical indicators on the 1-hourly chart are holding in the bearish territory and have also started losing positive momentum on 4-hourly/daily charts, suggesting further downside.

   •  A convincing breakthrough 100-hour SMA will further reinforce the negative outlook and prompt some additional long-unwinding trade towards challenging the 0.7200 round figure mark.

   •  The downside, however, is likely to remain limited and find some support near 50% Fibo. level of the 0.7138-0.7295 last week’s up-move ahead of Tuesday's RBA policy decision

AUD/USD 1-hourly chart