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  • The Aussie is boosting higher on Monday as the US Dollar recedes, pushing the AUD into a new three-week high.
  • The pair is correcting from July’s 18-month low, and plenty of upside room to move is in place after June’s decline from 0.7676.
  • A Long-term bearish trend is still in place with lower lows/lower highs marked clearly on Daily candles.

AUD/USD Chart, 15-Minute

Spot rate:   0.7448
Relative change:   0.25%
High:   0.7450
Low:   0.7427
   
Trend:   Bullish
   
Support 1:   0.7375 (Friday low)
Support 2:   0.7348 (S2 daily pivot)
Support 3:   0.7309 (previous week low)
   
Resistance 1:   0.7475 (100.0% Fibo expansion level)
Resistance 2:   0.7560 (June 8th swing low)
Resistance 3:   0.7623 (June 12th high)