- The major AUD/USD pair double-bounced off of the 61.8% Fibo retracement level twice last week, but bullish momentum remains limited as the US Dollar looks primed for further upside on impending US Fed rate hikes.
- July has been a consolidation month for the Aussie-Dollar, and traders should be looking for a momentum swing to break the current high/low barriers before picking a direction.
| Spot rate: | 0.7398 |
| Relative change: | Negligible |
| High: | 0.7403 |
| Low: | 0.7395 |
| Trend: | Flat to bearish |
| Support 1: | 0.7373 (61.8% Fibo retracement level) |
| Support 2: | 0.7358 (previous week low) |
| Support 3: | 0.7317 (two week low) |
| Resistance 1: | 0.7414 (Friday swing high) |
| Resistance 2: | 0.7463 (previous week high) |
| Resistance 3: | 0.7483 (one month high) |
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