AUD/USD Technical Analysis: bulls manage to close opening gap

  • Aussie closes weekend gap, but rolls back over into bearish territory.
  • Data-thin Monday sees broad-market concerns controlling sentiment direction.
  • Failure to hold at 0.7270 will see an extended slide.

AUD/USD Chart, 15-Minute

Spot rate:  0.7278
Relative change:  0.09%
High:  0.7299
Low:  0.7269
   
Trend:  Bearish
   
Support 1:  0.7269 (current low; major technical bottom)
Support 2:  0.7191 (technical bottom, 2017)
Support 3:  0.7158 (S3 daily pivot)
   
Resistance 1:  0.7340 (38.2% Fibo retracement level) 
Resistance 2: 0.7382 (August 8th swing low)
Resistance 3:  0.7455 (previous week high)

 

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