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  • The Aussie heads into the new trading week in a precarious technical stance, with Monday kicking off with a sharp downside gap for the AUD/USD after weekend headlines reported that China has snubbed the idea of any more trade talks with the US.  
  • The AUD peaked just north of the 0.7300 major handle last week, and buyers will be hoping that broader market sentiment holds steady long enough for another run at 0.73.

AUD/USD Chart, 1-Hour

Spot rate 0.7271
Current week change 0.15%
Previous week high 0.7304
Current week low 0.7260
   
Support 1 0.7236 (21-day EMA)
Support 2 0.7228 (200-hour EMA)
Support 3 0.7085 (2018 current low)
   
Resistance 1 0.7291 (50-day EMA)
Resistance 2 0.7381 (August 21st swing high)
Resistance 3 0.7499 (200-day EMA)