- The Chairman of the Federal Reserve Bank of the US, Jerome Powell is set to speak at 17:30 GMT which can cause a lot of volatility in USD-related pairs.
- AUD/USD has retraced about 61.8% of the losses made on Wednesday, suggesting that the pullback up might be coming to an end. Additionally, AUD/USD is trading inside a rising wedge which is a rather bearish clue.
- AUD/USD bulls will now try to defend the 0.7400 figure while bears will try hard to push below it.
AUD/USD 15-minute chart
Spot rate: 0.7414
Relative change: 0.65%
Resistance 1: 0.7442 June 25 high
Resistance 2: 0.7485-0.7488-0.7494 current week’s high, 200-period SMA (4h), 50-daily SMA
Resistance 3: 0.7600 figure
Resistance 4: 0.7674 swing high
Support 1: 0.7400 figure
Support 2: 0.7380 June 26 low
Support 3: 0.7364 June 28 high
Support 4: 0.7345 congestion zone
Support 5: 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.