AUD/USD declines in the early hours of the Asian session

AUD/USD has registered a decline from the  level 0.8848 to the support at0.8796 level.

Yesterday, the Aussie found resistance at the 200 day moving average near the 0.8880 level, so this pair failed to consolidate above the SMA 200 to further strengthen the bullish trend. Now, the following bearish targets are set at the levels of 0.8763 and 0.8740. However, keep in mind that the daily pivot point is set at the level of 0.8841. If this pair makes a breakout at that level, the next bullish target would be the level of 0.8873.

The MACD indicator is still in negative territory, so the bearish outlook remains alive in the aussie.

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