AUD / USD Analysis

AUD / USD Analysis

In line with the recent price movements, FX Strategists are predicting a possible move in AUD / USD in the 0.7200 region in the coming weeks. 24-hour outlook: “AUD was expected to consolidate and trade between 0.7100 and 0.7180 yesterday. The 0.7091 / 0.7162 range was slightly lower and narrower than expected when the AUD was trading. Momentum indicators are still more neutral and the AUD 0.7070 / 0.7150 band will continue to consolidate from here, albeit in a lower range. " Next 1-3 weeks: "a relatively early rebound was detected last Wednesday, after which the AUD followed horizontally, as it highlighted that if it closed above the 0.7010 level on Wednesday it could go to June's peak of 0.7067. The lack of improvement in momentum led to signs on Monday that the AUD might be higher, but the 0.7067 level could not be reached. However, the AUD rose to 0.7147 before closing down + 1.58%, its biggest 1-day gain since June. The increasing momentum received strong support and the next level to follow is 0.7200. Looking ahead, the next resistance is at 0.7250. The current positive stage in AUD looks solid as long as AUD doesn't fall below 0.7030. ''