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27 Jul 2018
AUD/USD Technical Analysis: Aussie grappling just beneath 0.74
- The Aussie is back on the defensive after the US Dollar picked up across the broader market, buoyed by rising US Treasury yields.
- Friday will again see market direction decided by Greenback traders with US GDP figures due in the upcoming American session.
- Daily candles has the AUD/USD consolidating near recent lows, and failure to break lower could see the AUD take a swing higher in the coming weeks.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7377 |
| Relative change: | Negligible |
| High: | 0.7382 |
| Low: | 0.7373 |
| Trend: | Bearish |
| Support 1: | 0.7371 (previous day low) |
| Support 2: | 0.7358 (July 24th swing low) |
| Support 3: | 0.7312 (S2 daily pivot) |
| Resistance 1: | 0.7400 (major technical level) |
| Resistance 2: | 0.7428 (61.8% Fibo retracement level) |
| Resistance 3: | 0.7636 (current week high) |