FXstreet.com (Barcelona) - Australian Dollar has been trading lower on Asian session on Monday, pulling down from 0.8835 area to levels below 0.8850, approaching 2-months low at 0.8810 at European session opening, 0.85% below the day's opening price action.

According to Rajoo C, technical analyst at Precise Trader, the bearish trend has been dominant for quite a long time, and the sellers have to be cautious: The Daily Trend has been in a Down Trend for quite some time and is approaching its price target so the bears have to be Cautious.

On the hourly trend, 0.8985-0.9020 are the levels to observe to maintain bearish outlook, says Rajoo C: The Hourly Trend is in a Range Trading expect a choppy session until the breakout and we deduce that the low is not seen yet ,8985-9020 are the critical levels to watch to maintain the bearish outlook.

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