If AUD/USD bulls fail to support the market near 0.7400 a retest of the 0.7380 former congestion zone can be on the cards. Next resistive points are at 0.7450 and 0.7480 level. Long term looking we would be bearish for this pair.
AUD/USD Daily Forecast - 26 June
Aussie failed to generate bullish momentum on the first day of the week though there were no major data releases from Australia and USA yesterday. Pair has some amount of support around 0.74 handle where bears drove the pair back as the Aussie retraced almost 50% of its last leg higher started last Thursday.
- 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…