AUD/USD Technical Analysis: Aussie under pressure struggles to regain the 0.7600 level

  • In the early European session, bulls lifted Aussie near the 0.7600 level but were blocked by the 200-period simple moving average (15m). 
  • AUD/USD bears are slightly in control as the market is trading below the bear trendline and the 200-period SMA. 
  • However, a breakout above the 0.7600 level and the bear trendline could see a retest of the weekly highs near 0.7630. 

AUD/USD 15-minute chart  

Spot rate:                 0.7607
Relative change:      0.19%     
High:                        0.7594
Low:                         0.7555

Trend:                      Bearish   

Resistance 1:            0.7606, 50-period daily SMA    
Resistance 2:           0.7630, 5-period daily SMA, last Friday’s high
Resistance 3:           0.7678 June’s high
Resistance 4:           0.7754, 200-period SMA

Support 1:                0.7560 last Friday’s low    
Support 2:                0.7514 last week’s low  
Support 3:                0.7412 May’s low

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