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16 Jul 2018
AUD/USD Technical Analysis: Aussie bumping upwards ahead of China's GDP release
- Aussie striking a bullish tone ahead of Chinese GDP figures as bulls make a push to continue the upward momentum kicked off midway through last week.
- Monday's Asia session will see restrained market volumes with Japan on a long weekend, and volatility could kick higher with fewer traders hitting the markets.
- The Aussie remains near critical lows for 2018, and bulls have a lot of work ahead of them to kick off a meaningful bull run.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7435 |
| Relative change: | 0.08% |
| High: | 0.7435 |
| Low: | 0.7411 |
| Trend: | Bullish |
| Support 1: | 0.7409 (38.2% Fibo retracement level) |
| Support 2: | 0.7393 (61.8% Fibo retracement level) |
| Support 3: | 0.7367 (Friday swing low) |
| Resistance 1: | 0.7435 (current day high) |
| Resistance 2: | 0.7483 (previous week high) |
| Resistance 3: | 0.7676 (June high) |