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10 Aug 2018
AUD/USD Technical Analysis: just can't seem to hold 0.74
- The Aussie is steeply off the week's highs, back into familiar consolidation as the AUD struggles to find bids against the buoyant Greenback.
- The upcoming RBA statement is unlikely to deliver much new material for markets, Aussie traders are at the mercy of broader risk sentiment.
- With a range pattern set for eight weeks and counting, a hard break in either direction could trigger a new long-term trend.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7367 |
| Relative change: | -0.08% |
| High: | 0.7379 |
| Low: | 0.7364 |
| Trend: | Bearish |
| Support 1: | 0.7364 (current week low) |
| Support 2: | 0.7347 (previous week low) |
| Support 3: | 0.7317 (four week low) |
| Resistance 1: | 0.7379 (current day high) |
| Resistance 2: | 0.7400 (major technical level) |
| Resistance 3: | 0.7452 (current week high) |