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Latest AUD USD Analysis and Forecast

Plunge, intermediate-term shift to a bear trend

Day trade update and view

A Thursday plunge through key .7079 and .7036 signalling an intermediate-term bear trend shift through the higher level, to reinforce negative pressures  from Wednesday's failure and sell off and the latter January  plunge through multiple supports including the December-January up trend line, keeping risks lower for Friday. 

Day trade setup

  • We see a downside bias through .7020 for the cycle low at .6989 and a key support at .6987 a break here aims for .6963 and maybe towards .6921.
  • But above .7100 opens risk up to .7181 and possibly .7215.

Intermediate-term outlook

The latter January push below .7079 signalled an intermediate-term shift to a bear trend.

Downside risks: We see an intermediate-term bear trend to aim for .6989/87, .6776 and .6506/00.

What changes this? Above .7181 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.

AUD USD Calendar

28/01/22 German GDP; US Personal Consumption Expenditure (PCE)

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BUY - rate is expected to increase, i.e. the first currency gains value against the second currency.
SELL - rate is expected to go down, i.e. the first currency is expected to lose value against the second currency.