Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

AUD/USD inches higher towards 0.7400, what’s next?

A.R Chowdhury by A.R Chowdhury
September 2, 2021
Reading Time: 2 mins read
0
AUD/USD inches higher towards 0.7400, what’s next?

AUD/USD up another 0.3% today to 0.7388

AUD/USD D1 02-09
Invest in yourself. See our forex education hub.

The aussie has shown quite remarkable resilience in the past two weeks, with AUD/USD itself bouncing back from near 0.7100 to now close in on 0.7400.

While that may owe in some part to the dollar floundering post-Jackson Hole and more positive risk sentiment, the aussie also isn’t seeing much downside from the ongoing virus situation in New South Wales and the RBA potentially delaying tapering next week.

I still reckon the two factors mentioned for the aussie are reasons to keep a divergence play against the currency but perhaps that may be only more relevant to AUD/NZD – even then, the pair has invalidated the break below the November low of 1.0418 this week.

For now, the technicals are supportive for the aussie against the dollar and it points towards a potential test of 0.7400 again, where upside momentum stalled previously during July and August trading.

As such, that offers a key line in the sand for buyers to contest in order to establish any fresh upside leg while sellers will have to defend that to hold their ground.

As things stand, the dollar side of the equation is a key consideration this week with the US non-farm payrolls release tomorrow a key risk event.

That will set the tone towards the end of the week but a poor jobs report may yet spur a fresh break for AUD/USD to the upside back towards 0.7500 potentially.

Otherwise, we may see more of a middling tone ahead of the weekend with 0.7400 capping gains with downside limited closer to key near-term levels at 0.7275 and 0.7316.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post
NZD/USD runs into key resistance as buyers keep the recent momentum going

NZD/USD runs into key resistance as buyers keep the recent momentum going

EUR/USD stays in the hunt for a fifth straight day of gains

EUR/USD stays in the hunt for a fifth straight day of gains

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

NAHB housing market index for May 37 vs. 35 estimate

May 19, 2020

US stocks open higher with the Nasdaq leading the way

July 9, 2020

And new highs once again…

July 1, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.