AUD/USD Technical Analysis: Aussie into previous lows as technical correction falters

• Aussie makes a bearish break of the rising trendline, falls back into last week's lows.
• Hourly indicators have run deep into oversold territory, expect a small bounce before continuation.
• Upcoming comments from RBA could extend the slide if the central bank's language is too dovish for Aussie bulls.

AUD/USD Chart, 1-Hour

Spot rate: 0.7569
Relative change: Negligible
High: 0.7575
Low: 0.7567

Trend: Bearish

Support 1: 0.7560 (previous week low)
Support 2: 0.7475 (two-week low)
Support 3: 0.7412 (major low; technical bottom)

Resistance 1: 0.7590 (previous major resistance)
Resistance 2: 0.7623 (previous day high; current week high)
Resistance 3: 0.7676 (one-month high; technical correction top)