Latest AUD USD Analysis and ForecastUpdated July 28th, 2021
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.
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.
Please join the AUD USD discussion
AUD USD Currency Converter
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.