“¢ The pair extended this week’s rejection slide from a previous support now turned resistance near the 0.7480-85 region and dropped to test 200-hour SMA. “¢ Escalating US-China trade war fears has been one of the key factors weighing heavily on the China-proxy Australian Dollar. “¢ With short-term technical indicators drifting back into bearish territory, the pair seems more likely to continue with its downward trajectory. “¢ The current fall could also be seen as the end of the recent corrective bounce and thus, increases prospects for the resumption of the prior weakening trend. AUD/USD 1-hourly chart Spot Rate: 0.7411 Daily High: 0.7456 Daily Low: 0.7404 Trend: Bearish Resistance R1: 0.7431 (100-period SMA H1) R2: 0.7456 (current day swing high) R3: 0.7486 (R1 daily pivot-point) Support S1: 0.7374 (S3 daily pivot-point) S2: 0.7361 (July 5 swing low) S3: 0.7335 (recent daily closing low) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: still looks constructive above 10-/21-day SMA. Targets another visit to the mid-1.1800s. FX Street 3 years "¢ The pair extended this week's rejection slide from a previous support now turned resistance near the 0.7480-85 region and dropped to test 200-hour SMA. "¢ Escalating US-China trade war fears has been one of the key factors weighing heavily on the China-proxy Australian Dollar. "¢ With short-term technical indicators drifting back into bearish territory, the pair seems more likely to continue with its downward trajectory. "¢ The current fall could also be seen as the end of the recent corrective bounce and thus, increases prospects for the resumption of the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
