AUD/USD Technical Analysis: backing down as tensions continue on trade

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  • The Aussie is seeing further downside in Tuesday's early sessions, facing back down below 0.7250 after peaking in the overnight session at 0.7263.
  • China tensions continue to press down on risk assets in the Pacific-Asia region as Shanghai continues to lash out at the US over tariffs which came into effect yesterday.
  • Today's bearish action sees the Aussie continuing to grind its way back into the 200-hour EMA at 0.7235, a major confluence with the 21-day EMA as well.

AUD/USD Chart, 1-Hour


	AUD/USD Technical Analysis: backing down as tensions continue on trade

Spot rate 0.7245
Week's change -0.20%
Previous week high 0.7304
Previous week low 0.7141
   
Support 1 0.7235 (200-hour EMA, 21-day EMA)
Support 2 0.7216 (September 16th swing high)
Support 3 0.7200 (major technical level)
   
Resistance 1 0.7264 (50-hour EMA)
Resistance 2 0.7289 (50-day EMA)
Resistance 3 0.7304 (previous week high)
   
   

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