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  • Tuesday’s dip sees little rebound, indicators are heading towards further sell signals.
  • Bullish divergence on MACD should give shortside traders a cautionary sign.
  • Economic calendar clear of any meaningful data for Wednesday, market focus will remain on trade war fears.

AUD/USD Chart, 1-Hour

Spot rate:             0.7381
Relative change: 0.17%
High:                    0.7382
Low:                     0.7368

Trend:                  Bearish

Support 1:            0.7347 (current week low)
Support 2:            0.7315 (S2 1-week pivot)
Support 3:            0.7192 (S3 1-week pivot)

Resistance 1:       0.7447 (38.2% Fibo 1-week level)
Resistance 2:       0.7508 (61.8% Fibo 1-week level)
Resistance 3:       0.7565 (R1 1-week pivot)