AUD/USD Technical Analysis: Aussie clipping higher, last week's high within reach

Aussie clambering upwards heading through Tuesday trading as traders finish digesting the latest dovish showing from the RBA, as expected.
Higher timeframes have been marking in higher lows, but bulls remain vexed by the major 0.7500 technical barrier.
Long-term bullish momentum may be hard to come across as long as the RBA remains on hold on interest rates for the indeterminate future.

Joshua Gibson FXStreet

AUD/USD Chart, 15-Minute

Spot rate:	0.7434
Relative change:	0.25%
High:	0.7437
Low:	0.7401

Trend:	Flat to bullish

Support 1:	0.7401 (current day low)
Support 2:	0.7390 (61.8% Fibo retracement level)
Support 3:	0.7359 (previous week low)

Resistance 1:	0.7441 (current week high)
Resistance 2:	0.7459 (R2 daily pivot)
Resistance 3:	0.7474 (R3 daily 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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