The Australian dollar (AUD) is expected to consolidate in a range of 0.6495/0.6555 against the US dollar (USD). In the long term, the bearish impulse is beginning to accumulate; The Aud is likely to go around 0.6460, the FX analysts of UOB Group, to be Leang and Peter Chia point.
The bearish impulse is beginning to accumulate
24 -hour vision: “The audience fell abruptly to a minimum of 0.6485 on Monday. Yesterday (Tuesday), we point out that ‘the abrupt fall seems excessive, and it is unlikely that the audience weakens much more.’ ‘ We expected the Aud ‘to consolidate between 0.6485 and 0.6535.’ Although the AUD was no longer weakened (minimum of 0.6491), it briefly rose to a maximum of 0.6559 before going back and closing at 0.6531 (+0.59%).
Vision to 1-3 weeks: “We became neutral on the audience two days ago (July 7, spot in 0.6555), indicating that ‘the bullish impulse has decreased to a large extent, and it is likely that the AUD operates in a range between 0.6490 and 0.6590 for the moment.’ After the Aud fell to a minimum of 0.6390, we reviewed our perspective to negative yesterday (July 8, Spot in 0.6515). Our perspective remains unchanged as long as 0.6585 is not broken (the level of ‘strong resistance’ was at 0.6600 yesterday). “
Source: Fx Street
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