AUD

AUDUSD sellers in control. Find out why in this technical video analysis.

Why ING expects a big rebound in AUD/USD before year-end

• ING expects the Australian dollar to bounce back strongly against the US dollar before the end of the year, driven by potential rate hikes, inflation surprises, and the undervaluation of the AUD. Their bullish target is a return to the 0.69 level in Q4 2023.

AUDUSD sellers are more in control. Close risk is the 61.8% on daily and 100 hour MA

• The 61.8 of the AUDUSD range from 2022 low comes in at 0.65468. The 100 hour MA is at 0.6552. Stay below is more bearish for the AUDUSD

AUDUSD Technical Analysis - The bearish bias remains

• The AUDUSD selloff extends past the 0.6563 support. The sellers are targeting a break below the 0.6459 low.

AUD/USD undoes it recent bounce, stays on course towards 0.6500

• No reprieve for the Australian dollar since the double-top pattern last month

NAB business confidence for July 2 versus -1 previous (revised from 0)

• NAB business confidence and business conditions

Australia Westpac consumer sentiment for August -0.4% versus 2.7% last month

• Australia Westpac consumer sentiment for August 2023

USDJPY extends to a new session high and breaks above its 100 hour MA in the process

• 100 hour moving average currently comes at 142.611

A forex quick look at the EURUSD, USDJPY, GBPUSD and AUDUSD to start the Asian session

• What levels are in play for the some of the major currency pairs heading into the new trading day

AUDUSD buyers are making a play with a test of the 100 hour MA

• Can BUYERS push the price above the MA and stay above, or will the SELLERS lean and push the pair back lower?

AUDUSD breaks higher but upside move is fading

• The 100 hour MA and swing area was broken but seeing a rotation back to the downside

China's Ministry of Commerce said it would drop tariffs on Australian barley imports

Australian dollar tracking even higher after the SoMP - China announcement awaited

RBA Statement says rates may need to go higher, full impact of rises so far not yet felt

• Reserve Bank of Australia SoMP

Economic calendar in Asia, 4 August 2023 - Reserve Bank of Australia Statement