- The Aussie has begun to turn bearish once more, slipping beneath 0.7400 after Friday’s bullish correction.
- Buying power behind the AUD is looking limited in the new week, hourly indicators are turning down from overbought conditions.
- Bullish momentum for the Aussie is being driven by Greenback selling, AUD/USD remains a bearish pair overall.
| Spot rate: | 0.7391 |
| Relative change: | -0.23% |
| High: | 0.7409 |
| Low: | 0.7389 |
| Trend: | Bearish |
| Support 1: | 0.7376 (38.2% Fibo retracement level) |
| Support 2: | 0.7356 (61.8% Fibo retracement level) |
| Support 3: | 0.7323 (one week low; technical bottom) |
| Resistance 1: | 0.7409 (current day high) |
| Resistance 2: | 0.7442 (previous week high) |
| Resistance 3: | 0.7509 (R3 daily pivot) |
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