Price action remained limited all day on the back of the US holiday. On a wider perspective, the dominant trends point to the downside. In the short-term AUD/USD is consolidating, still, near the 1-year low, it reached on Monday at 0.7309. If it manages to hold above the 0.7330 area, the bearish pressure would remain limited.
AUD/USD Daily Forecast - 5 July
The AUD/USD pair failed to hold to gains and it was about to end the day flat. Earlier today, rose to 0.7423 supported by Australian economic data, reaching the highest level since June 25. It failed to hold on top of 0.7400 and pulled back. The retreat found support at 0.7370/75 and during the last hours it has been moving in a range between 0.7390 and 0.7370, near the same level it closed on Tuesday.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419