- AUD/USD is recovering slightly after hitting fresh 6 year low of 0.7328 on widely anticipated set of neutral June minutes from the RBA
- The c.bank minutes noted that a further decline in A$ is expected and necessary to provide assistance to economy
- The pair opened Tuesday 0.7370, and is currently trading at 0.7357, with a high of 0.7385 and a low of 0.7347
- Momentum remians bearish, with daily price action below cloud and Stochs pointing lower
- Immediate support lies at 0.7328 (2015 & 6 Yr Low Jul 20), while resistance looms at 0.7397 (Daily High Jul 20)
R1: 0.7397 (Daily High Jul 20)
R2: 0.7401 (100-HMA)
R3: 0.7417 (10 DMA)
Support Levels:
S1: 0.7328 (2015 & 6 Yr Low Jul 20)
S2: 0.7304 (30 DMA Lower Bollinger)
S3: 0.7204 (76.4% of 0.6007 - 1.1081)
