AUD/USD hammered lower in the European Session, as markets contemplate on Sept Fed rate hike in light of RBA minutes
- 4 hourly cloud base at 0.7327 offers strong support, price bounced off from here, but momentum still bearish
- Below here support sits near 0.7280, then at 0.7255/60 2015 low, breaks below could take the pair to 0.7204 (76.4% Fibo 0.6007-1.1081)
- Markets await crucial US economic releases including Wednesday's CPI and FOMC minutes for further momentum on the pair
Resistance Levels:
R1: 0.7409 (Daily High Aug 13)
R2: 0.7440 (Highs Jul 22, Aug 11)
R3: 0.7450 (Daily High Jul 21)
Support levels:
S1: 0.7323 (Daily Low Aug 13)
S2: 0.7266 (30 DMA Lower Bollinger)
S3: 0.7204 (76.4% Fibo 0.6007-1.1081)
