AUD/USD Technical Analysis: Failure to cross 0.7135-40 seems to recall the weekly low around 0.7050

• The AUD/USD slips under 0.7090 by the end of Wednesday’s trading.
• The pair reversed from 0.7135-40 horizontal resistance-region comprising highs marked during the middle of January 06 and low of January 29.
• As a result, low of the early present week near 0.7050 comes back in focus for sellers.
• However, 0.7080 and 0.7065 may offer intermediate halts during the drop.
• In case the quote slid beneath 0.7050, 61.8% Fibonacci expansion of its moves to January 06 high to February 13, at 0.7015, may appear on bears’ radar to target.
• On the upside, 0.7120 can become immediate resistance for the pair before highlighting 0.7135-40 for one more time.
• Given the recovery beyond 0.7140, a downward sloping trend-line near 0.7185, followed by 0.7225, can entertain the buyers.

AUD/USD hourly chart