AUD

AUDUSD tests a cluster of resistance and backs off

• Lots of resistance on the daily chart between 0.6966 to 0.6993

Australia July flash Manufacturing PMI 55.7 (prior 56.2) & Services 50.4 (prior 52.6)

• Preliminary PMIs from Australia for July 2022

AUDUSD traders lean against a swing area. What does that mean? How can you benefit?

• Buyers lean on dips to 100 hour MA/swing area support

Australian Q2 Business confidence 5 (prior 15)

The AUDUSD story is a little different today

• Today no risk on flows as the pair looks to close lower on the day

+50bp rate hike expected from the RBA at its next meeting on August 2

Australia data - Westpac leading index (June) fell, but still indicates trend growth

Reserve Bank of Australia Governor Lowe speaking - live link

AUDUSD tests its 38.2% retracement target. Key level for both buyers and sellers.

• Trades at a new high for the day

AUDUSD Technical Analysis

• After a 16.66% decline from its high in 2021, the Australian dollar, with its weekly candle (still in progress) is starting to look interesting for the bulls.

RBA Dep Gov Bullock says household balance sheets are in very good shape

AUD/USD little changed after the release of the RBA July meeting minutes

RBA July minutes: RBA is committed to doing what is necessary on inflation

AUD traders - reminder - RBA July minutes, Deputy Governor Bullock are on the agenda

Australia weekly consumer confidence survey shows a tiny rise