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18 Jul 2018
AUD/USD Technical Analysis: Aussie back on the defensive against the Greenback
- Aussie flubbed Tuesday as the Greenback rebounded against broader markets on a hawkish showing from Fed chair Powell.
- Wednesday sees little action on the Aussie calendar, AUD/USD to be driven by market sentiment which currently leans Dollar-positive.
- A break into recent lows will see a fresh challenge of the year's bottom near 0.7310.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7380 |
| Relative change: | -0.05% |
| High: | 0.7387 |
| Low: | 0.7378 |
| Trend: | Bearish |
| Support 1: | 0.7375 (previous day low) |
| Support 2: | 0.7359 (previous week low) |
| Support 3: | 0.7309 (2018 low; major technical bottom) |
| Resistance 1: | 0.7400 (major technical level) |
| Resistance 2: | 0.7416 (61.8% Fibo retracement level) |
| Resistance 3: | 0.7441 (current week high) |