AUD/USD Technical Analysis: Downside risks persist, hovering near 20-month lows

   •  The pair has been trending lower over the past 24-hours or so alongside a downward sloping trend-channel formation on the 30-min chart.

   •  Risk-recovery was largely negated by today's disappointing Chinese macro data and thus, did little to assist the pair to gain any positive traction.

   •  Indicators on daily chart hold in bearish territory and hence, a follow-through weakness, led by some fresh technical selling, remains a distinct possibility.

AUD/USD 30-min chart

Spot Rate: 0.7261
Daily High: 0.7283
Trend: Bearish

Resistance
R1: 0.7283 (current day swing high)
R2: 0.7300 (round figure mark)
R3: 0.7321 (R2 daily pivot-point)

Support
S1: 0.7250 (descending trend-channel support)
S2: 0.7230 (S2 daily pivot-point)
S3: 0.7200 (round figure mark)