My views on the AUD/USD…..

The AUD/USD (currently 0.7400) is seeing its short-term (2-6 weeks) downtrend waning and weakening.

A move higher to 0.7550 is now expected.

Once I see a test of 0.7550, I expect a move lower to 0.7300 region as the AUD/USD, over the Medium Term (3-8 months) is still in clear downtrend.

Failure to hold 0.7290 suggests a move to the 0.7020 mark, with 0.7250 and 0.7150 being stops along the way down.

Keep in mind, the main game is for a lower AUD (versus the USD) and any uptick by a penny or so, is merely a chance to buy some more USD.

August 4, 2021

by Rob Zdravevski

rob@karriasset.com.au

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