AUD/USD Daily Forecast - 27 June

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Tuesday, Jun 26 2018

AUD/USD Daily Forecast - 27 June

AUD/USD is holding a higher beta to the S&P which is currently performing robustly, allowing for a bounce in the Aussie, closely linked to the performance of commodities such as copper that is also recovering on Tuesday despite the dollar making back some ground. AUD/USD is currently trading at 0.7396, having recovered from a low of 0.7379 and had made a high of 0.7423.

To the downside, 0.7380 is the first support while a break there will expose the May 2017 low (0.7328). On the upside, the 10-D SMA is at 0.7431 while the 10-W SMA is located at 0.7516 through 0.7500 recent double bottom lows. A break of 0.7600 opens 0.7640 and then 0.7680 before the top of the channel where the 100-D SMA resides at 0.7709.

More in this category: « EUR/USD Daily Forecast - 26 June GBP/USD Daily Forecast - 27 June »

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