The Australian dollar (Aud) is very likely to be negotiated in a range between 0.6535 and 0.6595. In the long term, current price movements are probably part of a phase of trade in rank; The firm underlying tone suggests that the AU could trade in a higher range of 0.6515/0.6415, the FX analysts of UOB Group, quek being Leang and Peter Chia point out.
Current price movements are probably part of a phase of trade in rank
24 -hour vision: “We did not expect the audience to rise abruptly to 0.6591 (we expected consolidation). Although the AD closed at 0.6589, it fell sharply after the closure. The accumulation of impulse has vanished. Today, we hope that the AUD is negotiated in a range, most likely between 0.6535 and 0.6595.”
Vision 1-3 weeks: “Tuesday (July 8, Spot at 0.6515), we noticed that ‘the downward impulse is beginning to accumulate.’ We expected the audience to go down to 0.6460. ‘ Then, the AUD was negotiated in a quiet way for a couple of days. The audience then rose above 0.6585 and reached a maximum of 0.6591.
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.
