• AUD/USD descends to 0.6974 from 0.7001 after RBA hike

• Breaks below 21 DMA support 0.6994, adding to bearish cues

• Recent rejection by 200 DMA, break of 100 DMA have weighed

• Tues close below 0.6959 engages Bollinger downtrend channel

• RBA governor Bullock sounds less hawkish after 6-3 vote split

• Does not offer forward guidance, says will wait and see
AUD

(Ewen Chew is a Reuters market analyst. The views expressed are his own.)