AUDUSD Currency pair flag

Latest AUD USD Analysis and Forecast

Prod lower (and bounce), sustaining a downside bias

Day trade update and view

A Wednesday prod lower (as also seen Tuesday), now down to .7314, having fully rejected Monday's minor bounce that was capped by initial resistance at .7400 and despite a bounce whilst below here we still see negative pressures from the sell off from mid-June through to late July down to .7286, keeping risks lower for Thursday.

Day trade setup

  • We see a downside bias for .7314; a break here maybe aims for .7286 and .7262.
  • But above .7400 aims for .7443, maybe towards .7503.

Intermediate-term outlook

The plunge below key .7672 support signalled an intermediate-term shift to a bear trend.

  • Upside risks: We see an intermediate-term bear trend to aim for .7000/6987.
  • What changes this? Above .7503 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.

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Other major currency pairs

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.