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17 Jul 2018
AUD/USD Technical Analysis: Aussie clipping higher, last week's high within reach
- Aussie clambering upwards heading through Tuesday trading as traders finish digesting the latest dovish showing from the RBA, as expected.
- Higher timeframes have been marking in higher lows, but bulls remain vexed by the major 0.7500 technical barrier.
- Long-term bullish momentum may be hard to come across as long as the RBA remains on hold on interest rates for the indeterminate future.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7434 |
| Relative change: | 0.25% |
| High: | 0.7437 |
| Low: | 0.7401 |
| Trend: | Flat to bullish |
| Support 1: | 0.7401 (current day low) |
| Support 2: | 0.7390 (61.8% Fibo retracement level) |
| Support 3: | 0.7359 (previous week low) |
| Resistance 1: | 0.7441 (current week high) |
| Resistance 2: | 0.7459 (R2 daily pivot) |
| Resistance 3: | 0.7474 (R3 daily pivot) |