- The Aussie is down into familiar lows from July’s consolidation ahead of Australian Retail Sales, but the upcoming US NFP release will likely see many traders sitting out for now.
- A bullish recovery for the AUD/USD is going to have to clear out July’s peaks above 0.74 and make an approach to 0.75 in order to avoid dropping back into the pair’s sideways range.
| Spot rate: | 0.7361 |
| Relative change: | 0.05% |
| High: | 0.7365 |
| Low: | 0.7356 |
| Trend: | Bearish |
| Support 1: | 0.7354 (current week low) |
| Support 2: | 0.7342 (July 18th swing low) |
| Support 3: | 0.7317 (four week low) |
| Resistance 1: | 0.7387 (38.2% Fibo retracement level) |
| Resistance 2: | 0.7410 (previous day high) |
| Resistance 3: | 0.7440 (current week high) |
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