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Jul 18 - 11:55 PM

AUD/USD - Sustained Break Below 0.7375 Will Target 0.7230/35

By John Noonan  —  Jul 18 - 09:29 PM
  • AUD/USD traded as low as 0.7373 and remains under pressure

  • The 61.8 of the 0.6990/0.8007 move at 0.7378 was briefly breached

  • A sustained break below 0.7375 targets en eventual test of 0.7230/35

  • The 200-week MA comes in at 0.7234 and the 76.4 of that move is at 0.7230

  • AUD sentiment is weighed down by spread of COVID locally and worldwide

  • A correctio0n lower in risk assets will support USD and undermine AUD

  • Impact of lockdowns on Aus economy will likely ensure RBA remains dovish

  • For more click on FXBUZ









aud/usd Click here

aud/usd 2 Click here

Source:
Refinitiv IFR Research/Market Commentary

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