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AUD / USD – Technical Analysis – Heading Down Quickly

Having enjoyed a solid run up since the beginning of June, The AUD / USD is starting to show clear signs of tiring and easing off considerably.  It has clearly fallen out of favour over the last few weeks.  Throughout the last few months, its retracements have been in the order of approximately 2 cents however the present sell is getting close to twice that as it drifts down towards 1.0200.  The break through the 1.04 level was a telling blow and it then met reasonable resistance there. (Daily chart below)

AUDUSD Technical Analysis Candlestick Daily Chart.

AUD/USD

Sep 3 at 02:30 GMT
1.0261/62    H: 1.0324    L: 1.0256
S3 S2 S1 R1 R2 R3
1.0250 1.0200 1.0000 1.0300 1.0400 1.0550

 

AUD/USD Technical

 

Further levels in both directions:

 

September 3

  • AU 1:30 (GMT) ANZ Job Ads (Aug)
  • AU 1:30 (GMT) Retail trade (Jul)
  • JP 5:00 (GMT) Vehicle Sales (Aug)
  • UK 8:28 (GMT) CIPS Manufacturing PMI (Aug)

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