AUD/USD Technical Analysis: Approximation to 0.7400 seems likely while above 0.7340
|- Pair is correcting lower ahead of the Asian session; below 0.7345, the bearish pressure is likely to increase, exposing 0.7330 and 0.7325.
- If holds above 0.7345, a move back to 0.7375 on Asian hours seems probable; another USD sell-off would target 0.7390.
- Aussie remains vulnerable despite upbeat AU jobs data and late US dollar sell-off; although bearish pressure eased.
- Daily chart shows AUD/USD still facing pressure, but a close significantly below 0.7330 is needed for more losses.
Spot rate: 0.7357
High: 0.7440
Low: 0.7321
Trend: Bearish
Resistance 1: 0.7390 (Intraday)
Resistance 2: 0.7445 (jul 16 high)
Resistance 3: 0.7483 (Jul high)
Support 1: 0.7345 (intraday)
Support 2: 0.7320 (Jun 27 & Jul 19 low)
Support 3: 0.7300 (Figure)
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