AUD / USD Current Price: 0.7191
- The Aussie remained resilient to intraday dollar demand.
- Australia will release Q2 Construction Work Done on Wednesday.
- AUD / USD is trading at daily highs with a slightly bullish position.
AUD / USD is trading near a daily high of 0.7195, higher in the range on this second day of the week. The Aussie refused to give up despite an increase in demand for the dollar during US trading hours, which declined before the US close anyway. The lack of data from Australia has kept the pair in a tight range since the start of the week. This Wednesday, however, the country will release the Q2 Construction Work Done, which is expected to be -5.8% compared to -1% in the first quarter of the year.
AUD / USD Short-Term Technical Outlook
AUD / USD is slightly bullish in the short term, as the 4 hour cat shows the pair is holding daily highs, and especially its moving averages. In the mentioned time frame, technical indicators are heading higher just above their midlines with limited bullish potential. A relevant high at 0.7215 provides immediate resistance with the bullish case likely getting stronger once above.
Support levels: 0.7135 0.7090 0.7050
Resistance levels: 0.7215 0.7250 0.7290
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