The strong fall of the Australian dollar (AUD) seems excessive against the US dollar (USD), but there is a possibility that the AU test 0.6500; The main support in 0.6480 is unlikely to be reached. In the long term, there has been an attempt accumulation of impulse; The AUD will probably lean down 0.6480, the FX analysts of UOB Group, to be Leang and Peter Chia point out.
The audience will probably lean down 0.6480
24 -hour vision: “Yesterday, we noticed that the Aud ‘is under slight downward pressure.’ We indicate the following: ‘The slight increase in the impulse indicates that the AU can lower today, but any fall is unlikely that it reaches 0.6515. In the first NY session, the AUs briefly rose to 0.6575 and then collapsed below 0.6515, reaching a minimum of 0.6508.
Vision at 1-3 weeks: “Yesterday (July 15, quotation in 0.6545), we reiterate our neutral vision, indicating that the AUD ‘is probably still quoting in a range of 0.6515/0.6615.’ The audience broke below 0.6515 in the NY trade, reaching a minimum of 0.6508. 0.6575. “
Source: Fx Street
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