12 Jul 2018
AUD/USD Technical Analysis: Trade concerns send the Aussie lower
- Trade concerns and slumping metals prices are driving the Aussie lower against the Greenback.
- The AUD's bullish correction has ended and the pair is now heading to make a new low for 2018.
- Daily candles show the pair swinging away from a new lower high.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7366 |
| Relative change: | Negligible |
| High: | 0.7369 |
| Low: | 0.7359 |
| Trend: | Bearish |
| Support 1: | 0.7359 (current day low) |
| Support 2: | 0.7309 (2018 low) |
| Support 3: | 0.7233 (S3 daily pivot) |
| Resistance 1: | 0.7429 (61.8% Fibo retracement level) |
| Resistance 2: | 0.7472 (July 10th swing high) |
| Resistance 3: | 0.7483 (current week high) |