AUD/USD Technical Analysis: Bears take the lead after 7 weeks of deadlock

  • AUD/USD finally broke to the downside from the 7-weeks trading range. AUD/USD is now extending the bear trend below the 0.7300 figure.
  • AUD/USD bears next targets are likely located near 0.7246 December 30, 2016 high and the 0.7200 figure. 
  • Resistances become 0.7310 July 2 low and 0.7345 demand level. 

AUD/USD 15-minute chart 

AUD/USD daily chart

Spot rate:                 0.7296
Relative change:      -1.03%     
High:                        0.7383
Low:                         0.7279

Trend:                      Bearish

Resistance 1:               0.7310 July 2 low
Resistance 2:               0.7345 demand level
Resistance 3:               0.7364 June 28 high
Resistance 4:               0.7380 June 26 low
Resistance 5:               0.7400 figure
Resistance 6:               0.7413 current August 3 high
Resistance 7:               0.7442 July 31 high
Resistance 8:               0.7463 July 26 high
Resistance 9:               0.7500 figure
Resistance 10:              0.7600 figure
Resistance 11:              0.7674 swing high

Support 1:               0.7246 December 30, 2016 high
Support 2:               0.7200 figure
Support 3:               0.7159 December 26, 2016 low

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