- AUD/USD exceeded its average daily range this Wednesday after the Aussie formed a double top on Monday and Tuesday. AUD/USD is currently finding some minor support at 0.7364, the June 28 high but the level should not hold.
- If the positively-correlated gold sell-off and broad-based USD demand stay in place, AUD/USD bear momentum is set to continue.
- The next scaling points to the downside are likely located near 0.7364 June 28 high, 0.7345 congestion zone and 0.7310 current 2018 low while resistance can be expected near the 0.7400 figure.
AUD/USD 15-minute chart
Spot rate: 0.7364
Relative change: -1.26%
Resistance 1: 0.7380 June 26 low
Resistance 2: 0.7400 figure
Resistance 3: 0.7442 June 25 high
Resistance 4: 0.7485-0.7488-0.7494 current week’s high, 200-period SMA (4h), 50-daily SMA
Resistance 5: 0.7600 figure
Resistance 6: 0.7674 swing high
Support 1: 0.7364 June 28 high
Support 2: 0.7345 congestion zone
Support 3: 0.7310 current 2018 low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.