AUD/USD Technical Analysis: Aussie consolidating recent 100-pip bull breakout near 0.7410 level

AUD/USD gained almost 100 pips after reaching a new 2018 low at 0.7345 on Thursday. It is currently consolidating the recent advance trading near the 50-period simple moving average on the 15-minute chart.
AUD/USD is currently supported close to 0.7410, near Wednesday’s high. A breakout above 0.7444 could lead to a breakout towards 0.7500-0.7514 area, figure and last week’s low.

Flavio Tosti Independent Analyst

AUD/USD 15-minute chart

Spot rate: 0.7427
Relative change: 0.66%
High: 0.7444
Low: 0.7373

Trend: Bullish above 0.7345

Resistance 1: 0.7444 current Friday's high
Resistance 2: 0.7476 May 29 low
Resistance 3: 0.7500-0.7514 area, figure and last week’s low

Support 1: 0.7410 Wednesday’s high
Support 2: 0.7345 current 2018 low
Support 3: 0.7327 May 9, 2017 low

Author

Flavio Tosti

Independent Analyst

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