- AUD/USD has been consolidating last week’s 100-pip bull move in the first two days of the week. The current pullback is likely coming to an end as it reached 0.7380, former congestion zone support.
- The consolidation is seen as a bull flag and a breakout above the trendline should send Aussie towards 0.7446 last week's high.
- However, a bear breakout below 0.7380 can see AUD/USD retrace back towards 0.7345 current 2018 low.
Spot rate: 0.7397
Relative change: -0.23%
Resistance 1: 0.7410 June 20 high
Resistance 2: 0.7446 last week's high
Resistance 3: 0.7476 May 29 low
Resistance 4: 0.7500-0.7514 area, figure and last week’s low
Support 1: 0.7391 intraday supply/demand zone
Support 2: 0.7380 former congestion zone
Support 3: 0.7345 current 2018 low
Support 4: 0.7327 May 9, 2017 low
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