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.

Matías Salord FXStreet

AUD/USD Chart, 15-Minute

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)

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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