Daily Market Analysis 02 Aug 2022

Daily Market Analysis 02 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 02 August

AUD/USD

Technical Outlook

The Australian dollar has posted strong gains yesterday (up 0.57% on the day). AUD/USD is putting pressure on resistance at 0.7050. Above, there is resistance at 0.7120 .There is support at 0.6950 and 6900.



Technical Indicators
Action
RSI (54)
BUY
Oscillator (64)
BUY
MACD (Above Midline)
BUY
200 EMA (0.7162)
SELL


Strategy


Scenario 1
Scenario 2
Action
SELL
SELL
Entry
0.6960
0.6970
Target 1
0.6930
0.6940
Target 2
0.6900
0.6910
Stop Loss
0.6990
0.7000


Key Signposts

AUD: Inflation data

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