AUD/USD Technical Analysis: Aussie catches a half-hearted bounce from Tuesday's low

Tuesday's dip sees little rebound, indicators are heading towards further sell signals.
Bullish divergence on MACD should give shortside traders a cautionary sign.
Economic calendar clear of any meaningful data for Wednesday, market focus will remain on trade war fears.

Joshua Gibson FXStreet

AUD/USD Chart, 1-Hour

Spot rate: 0.7381
Relative change: 0.17%
High: 0.7382
Low: 0.7368

Trend: Bearish

Support 1: 0.7347 (current week low)
Support 2: 0.7315 (S2 1-week pivot)
Support 3: 0.7192 (S3 1-week pivot)

Resistance 1: 0.7447 (38.2% Fibo 1-week level)
Resistance 2: 0.7508 (61.8% Fibo 1-week level)
Resistance 3: 0.7565 (R1 1-week pivot)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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