Breaking: AUD/USD refreshes yearly low near 0.7100 on bearish Doji, Omnicron-led fears

• AUD/USD takes offers to refresh intraday low after posting the bearish candlestick.
• Moderna Chief’s comments offer immediate burden on the risk catalysts.
• 20-SMA and two-week-old resistance line restricts short-term upside.
• Two-day-old horizontal area limits immediate downside before the yearly low near 0.7105.

AUD/USD sellers attack monthly bottom surrounding 0.7110 in a fresh wave of selling ahead of Tuesday’s European session.

In doing so, the Aussie pair justifies the bearish Doji candlestick on the four-hour chart below a fortnight-old resistance line and 20-SMA. Adding to the bearish bias is the MACD line’s failure to extend previous recovery moves.

While Doji and the stated upside hurdles direct AUD/USD prices to the south, the yearly low near 0.7105 and the 0.7100 challenges the pair sellers.

However, a clear downside break of the 0.7000 mark will open a door for a 100-pip fall towards a horizontal area comprising multiple levels marked since June 2020.

Alternatively, 20-SMA and the stated immediate support line restricts corrective pullback below 0.7155, a break of which will direct the AUD/USD buyers towards the 0.7200 threshold.

AUD/USD: Four-hour chart

Trend: Further weakness expected