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26 Jul 2018
AUD/USD Technical Analysis: USD sell-off gives the Aussie a breather
- The Aussie is back on an upswing amidst a broad-market risk recovery, but July's highs near 0.7480 remain the level to beat before bulls can begin marking in a consistent move higher.
- Data for the AUD has been thin and on the disappointing side, and the current up-move sees momentum from US Dollar sell-offs.
- Aussie bulls are likely still on the sidelines, and a resurgence of market tensions on trade, geopolitics, or supply constraints will see a quick reversal.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7455 |
| Relative change: | 0.05% |
| High: | 0.7461 |
| Low: | 0.7440 |
| Trend: | Bullish |
| Support 1: | 0.7440 (current day low) |
| Support 2: | 0.7391 (previous day low) |
| Support 3: | 0.7373 (61.8% Fibo retracement level) |
| Resistance 1: | 0.7463 (previous day high) |
| Resistance 2: | 0.7483 (July top) |
| Resistance 3: | 0.7558 (R3 daily pivot) |