The Australian dollar (AUD) will probably be negotiated in a lateral range of 0.6430/0.6495. In the long term, the bearish impulse is decreasing; A rupture of 0.6520 would indicate that the AU is not breaking below 0.6405.
The bearish impulse is decreasing
24 -hour vision: “In the New York trade last Friday, the Aud shot at 0.6493, backed up 0.6438 before closing at 0.6465 (+0.79%). Price movements did not result in a significant increase in the upward impulse. Instead of continuing to rise, it is more likely that the Aud was negotiated laterally today, probably between 0.6430 and 0.6495. “
Vision at 1-3 weeks: “Last Thursday (July 31, price at 0.6445), we indicated that the AUD ‘could potentially break below 0.6405 and test the minimum of June, about 0.6375.’ We also indicate that ‘to maintain the accumulation of impulse, the AU must be maintained below 0.6520 (level of’ strong resistance ‘).’ After falling to a minimum of 0.6419 on Friday, the audience rose sharply, reaching a maximum of 0.6493.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
