AUDUSD with signs of bearish short-term structure formation

The H1 chart structure for AUDUSD is still calling for a lower push towards the monthly pivot point of 0.7495, as the pair is still trying to find a strong bottom.

However, the overall structure remains bearish because the Aussie may still be correcting the rally from the March 28th lows.

If AUDUSD achieves in consolidate below the 200 SMA at H1 chart, then the decline towards the monthly pivot is highly probable. The RSI indicator is at negative territory.

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