- AUD/USD main bearish trend is currently in a bullish pullback for the fifth day in a row.
- AUD/USD is trading in a bull channel with the 100 and 200-period simple moving averages sloping upward suggesting bullish momentum. After reaching 0.7345 target bulls objective is to now keep the market above 0.7364 resistance in order to reach 0.7407 May 8 low.
- A sustained bear breakout below 0.7294 would negate the short-term bias.
Spot rate: 0.7366
Relative change: 0.38%
High: 0.7372
Low: 0.7331
Main trend: Bearish
Short-term trend: Bullish above 0.7294
Resistance 1: 0.7364 June 28 high
Resistance 2: 0.7380 June 26 low
Resistance 3: 0.7407 May 8 low
Support 1: 0.7345 August 3 low
Support 2: 0.7294 August 13 high
Support 3: 0.7255 August 13 low
Support 4: 0.7200 figure
Support 5: 0.7159 December 26, 2016 low
Support 6: 0.7100 figure