AUD/USD Technical Analysis: new US tariff threats kick the Aussie into a one-year low

Aussie tumbles as risk flows pile into safe havens.
AUD/USD loses ahead of RBA Meeting Minutes, breaks into a new one-year low.
The US is stepping up tariff threats on China, shaking out markets for Tuesday.

Joshua Gibson FXStreet

AUD/USD Chart, 1-Hour

Spot rate: 0.7403
Relative change: -0.24%
High: 0.7424
Low: 0.7393

Trend: Bearish

Support 1: 0.7393 (current day low)
Support 2: 0.7328 (May 2017 technical bottom)
Support 3: 0.7192 (S3 1-week pivot)

Resistance 1: 0.7454 (current week high)
Resistance 2: 0.7501 (38.2% Fibo retracement level; major handle)
Resistance 3: 0.7568 (61,8% Fibo retracement level)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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