6 Aug 2018
AUD/USD Technical Analysis: 0.7400 firming as resistance
- The Aussie is middling as the new week sees the RBA expected to hold on rates for Tuesday.
- July's tight consolidation on the Daily charts sees the pair hanging near 2018's lows as interest rate divergence between the RBA and the US Fed takes its toll on the AUD/USD.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7396 |
| Relative change: | Negligible |
| High: | 0.7399 |
| Low: | 0.7390 |
| Trend: | Flat to bearish |
| Support 1: | 0.7390 (current day low) |
| Support 2: | 0.7369 (July 27th swing low) |
| Support 3: | 0.7347 (previous week low) |
| Resistance 1: | 0.7400 (major technical level) |
| Resistance 2: | 0.7410 (Friday high) |
| Resistance 3: | 0.7440 (previous week high) |