“¢ The pair has been trending lower over the past 24-hours or so alongside a downward sloping trend-channel formation on the 30-min chart.
“¢ Risk-recovery was largely negated by today’s disappointing Chinese macro data and thus, did little to assist the pair to gain any positive traction.
“¢ Indicators on daily chart hold in bearish territory and hence, a follow-through weakness, led by some fresh technical selling, remains a distinct possibility.
AUD/USD 30-min chart
Spot Rate: 0.7261
Daily High: 0.7283
Trend: Bearish
Resistance
R1: 0.7283 (current day swing high)
R2: 0.7300 (round figure mark)
R3: 0.7321 (R2 daily pivot-point)
Support
S1: 0.7250 (descending trend-channel support)
S2: 0.7230 (S2 daily pivot-point)
S3: 0.7200 (round figure mark)
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