10:26, 08 July

Daily Analysis

On Tuesday last week we covered the AUDUSD which spent the remainder of the week testing and then easing away from the key 0.7050 level, which has continued to repel prices. It did however enjoy a solid surge higher in the last few weeks when it bounced strongly off support at 0.6850 which has helped prop up the currency pair twice in the last two months.
This was a solid reversal from the week prior which saw it drop sharply to its lowest levels for 2019 pushing through any support around 0.6850 for a short period of time. Currently it looks content to trade within the range between 0.6850 and 0.7050.