The underlying tone in the Dollar Australian (AUD) has strengthened against the US dollar (USD), but this will probably lead to a higher range of 0.6505/0.6545 instead of a sustained increase. In the long term, the downward impulse is beginning to slow down; The probability that the Aud falls to 0.6455 is decreasing, the FX analysts point out UOB GroupTo be Leang and Peter Chia.
The downward impulse is beginning to slow
24 -hour view: “After the price movements last Friday at the AU, we indicated yesterday (Monday) that ‘the impulse indicators remain mostly flat, and the AU could continue to consolidate today, probably in a range of 0.6490/0.6535.’ Subsequently, the AUD was negotiated between 0.6500 and 0.6538, closing at 0.6525 (+0.25%).
View 1-3 weeks: “Last Wednesday (July 16, for 0.6520), we indicate that ‘there has been an attempt accumulation of impulse, and the AU probably slips to 0.6480. After the AUD fell to a minimum of 0.6455, we highlight the following last Friday (July 18, torse at 0.6500): ‘The downward impulse has accumulated even more, but given the conditions of overtime in the short term, the AU can consolidate for a couple of days. 0.6455. ‘ Yesterday, the audience rose to a maximum of 0.6538.
Source: Fx Street
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