- 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
|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)|