AUD/USD Technical Analysis: Trade concerns send the Aussie lower

  • 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)