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  • Trade concerns and slumping metals prices are driving the Aussie lower against the Greenback.
  • The AUD’s bullish correction has ended and the pair is now heading to make a new low for 2018.
  • Daily candles show the pair swinging away from a new lower high.

AUD/USD Chart, 15-Minute

Spot rate:   0.7366
Relative change:   Negligible
High:   0.7369
Low:   0.7359
   
Trend:   Bearish
   
Support 1:   0.7359 (current day low)
Support 2:   0.7309 (2018 low)
Support 3:   0.7233 (S3 daily pivot)
   
Resistance 1:   0.7429 (61.8% Fibo retracement level)
Resistance 2:   0.7472 (July 10th swing high)
Resistance 3:   0.7483 (current week high)