There is room for the Australian dollar (AUD) to try 0.6500 against the US dollar (USD); It is unlikely that a sustained fall below this level occurs. In the long term, the bullish impulse has dissipated, with signs of an increasing bearish impulse; The AUD probably slips down, potentially reaching 0.6480, the FX analysts of UOB Group, to be Leang and Peter Chia.
The bullish impulse has dissipated
24 -hour vision: “We expected the AUD ‘to consolidate in a range of 0.6555/0.6595’ Yesterday. Our vision of consolidation was incorrect, since the audience collapsed to a minimum of 0.6513. Despite the fall, the AU has not gained much impulse. However, there is a room for the AU to try 0.6500. Based on the current impulse, it is unlikely to produce a sustained fall below this level.
Vision at 1-3 weeks: “We have maintained a positive vision of the audience since mid-last week. After the AUD reached our previous technical goal in 0.6625 and retreated, we highlight last Friday (July 25, even at 0.6590) that ‘although the short-term impulse has decreased slightly, the audience can still move to 0.6645, but the probabilities are not high.’ We also indicate that ‘a break of 0.6545 (level of’ strong support ‘) would mean that 0.6645 is out of reach.’ The audience then fell abruptly to a minimum of 0.6513, closing at 0.6521, with a fall of 0.67%. 0.6585. “
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.
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