AUD/USD Forecast July 20, 2017, Technical Analysis

The Australian dollar rose slightly during the day on Wednesday, continuing the bullish pressure that we had seen over the last couple of sessions. Because of this, looks as if the market is ready to continue to reach towards the psychologically important figure of 0.80. I believe that the market will continue to follow the gold markets as per usual, which look very healthy. The US dollar is in a lot of trouble, and I think that the Australian dollar is an excellent way to play US dollar weakness. As gold rises, that puts bullish pressure in this market, and of course vice versa. You can see that the 24-hour exponential moving average has offered support as of late, and I think it should continue to do so. Longer-term, the 0.80 level above will cause quite a bit of resistance, but I think it is far too attractive of a target for traders to ignore.
Short-term trading only
I believe that the markets will continue to trade short-term, with the buyers looking to get involved on pullbacks based upon value. Once we break above the 0.80 level, the market then becomes more of a “buy-and-hold” situation. Massively the buying dips will be the best way to go going forward, as we should continue to see bullish pressure above the 0.0 level. I believe that the 0.7750 level underneath should continue to be a bit of a “floor” in the market. The market continues to show upward proclivity, so I don’t necessarily have much in the way of any interest in shorting. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. bears no responsibility for any trading losses you might incur as a result of using any data within the