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AUD/USD has a look under 0.6800

As the US dollar has weakened further over the past week, that has allowed the AUD/USD to continue to advance. Yesterday the AUD/USD rose to its best level since forming a double top on the daily charts, (July 13 and 14) at 0.6895. The high seen yesterday stalled just short of that, at 0.6871. So, as you can see, 0.6895 remains a key level. The AUD/USD closed in the US last at 0.6830. An attempt earlier today to rebound saw it stall several times at 0.6845 and that multiple failure, coupled with a more general dollar recovery (led by the USD/JPY) has now seen the AUD slip below the 0.6800 handle. The low seen a little earlier was at 0.6795. So, now we have topside resistance at 0.6845, 0.6871 and of course finally at 0.6895. On the downside there is not much to shout about this side of 0.6700. That said the AUD/USD has now steadied a little, but yet to make much of a rebound, currently trading at 0.6802

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