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  • The Aussie is back on the defensive after the US Dollar picked up across the broader market, buoyed by rising US Treasury yields.
  • Friday will again see market  direction decided by Greenback traders with US GDP figures due in the upcoming American session.
  • Daily candles has the AUD/USD consolidating near recent lows, and failure to break lower could see the AUD take a swing higher in the coming weeks.

AUD/USD Chart, 15-Minute

Spot rate: 0.7377
Relative change:   Negligible
High:   0.7382
Low:   0.7373
Trend:   Bearish
Support 1:   0.7371 (previous day low)
Support 2:   0.7358 (July 24th swing low)
Support 3:   0.7312 (S2 daily pivot)
Resistance 1:   0.7400 (major technical level)
Resistance 2:   0.7428 (61.8% Fibo retracement level)
Resistance 3:   0.7636 (current week high)