FXStreet reports that Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the aussie to drop towards the 0.7305 area in the near term. 

“We would allow for some near-term consolidation below the 0.7481 three-month resistance line, and a minor dip lower.”

“Initial support lies at the 20-day ma at 0.7305 and 0.7289, the 21st July low and these guard 0.7106, the August low.” 

“A close above the resistance line would target the 2021 resistance line at 0.7699.”