{{val.symbol}}
{{val.value}}

AUD/USD forex forecast and analytics today and July 28-29, 2021

AUD/USD forex forecast and analytics today and July 28-29, 2021

The Australian currency remains under pressure due to the aggravation of the pandemic situation in the country, which can negate all the successes of the national economy for the first half of this year.

AUD/USD forex forecast and analytics today and July 28-29, 2021

Australian Treasurer Josh Frydenberg said that the country's GDP is expected to decline in the third quarter, and the situation with the fourth quarter remains uncertain. A new economic recovery is possible, as well as a continuation of its reduction. According to the latest calculations, the restrictions cost the Australian economy 2.8 billion Australian dollars every week. At the same time, the weakening of quarantine measures in the states of Victoria and South Australia will not greatly ease the situation, since the most economically active state of New South Wales and its capital Sydney still remains in a state of quarantine, which may last for several more weeks.

The US dollar now looks preferable. Investors are waiting for the results of the next meeting of the US Federal Reserve starting today. Probably, the regulator will not adjust monetary policy and change the interest rate from the current 0.25%, but it may hint at the timing of reducing the volume of securities repurchase, as the head of the department Jerome Powell confirmed the discussion of this step by officials.

Support and resistance levels

The key for the "bears" remains the level of 0.7324 (Murray [3/8]), the breakdown of which will give the prospect of a decline to the levels of 0.7263 (Murray [-1/8]) and 0.7200 (Murray [-2/8]) within the forex forecast. A break above the level of 0.7446 (Murray [2/8], the middle line of the Bollinger bands) can cause an increase to the levels of 0.7507 (Murray [3/8]) and 0.7568 (Murray [4/8]).

The downward trend continues, as evidenced by the reversal of the Bollinger bands down and the stabilization of the MACD histogram in the negative zone. The upward reversal of the Stochastic does not exclude an upward correction.

Resistance levels: 0.7446, 0.7507, 0.7568.

Support levels: 0.7324, 0.7263, 0.7200.

Trading Scenarios

Thus, AUD/USD forex forecast for July 28-29, 2021, short positions can be opened below the level of 0.7324 with targets of 0.7263, 0.7200 and a stop loss in the area of 0.7365. Implementation period: 5-7 days.

Long positions can be opened above the level of 0.7446 with targets of 0.7507, 0.7568 and a stop loss in the area of 0.7400.

Trader Avatar

 

View forecasts for AUD/USD

Other blogs by this trader

AUD/USD forex forecast and analytics today and August 9-10, 2021
AUD/USD forex forecast and analytics today and August 9-10, 2021 The Australian dollar shows a decline against the US currency at the Asian session, correcting after a moderate growth the day before, which returned the instrument to its previous local highs since July 16.Bidders are fixing long positions before the publication of the final report on the US labor market for July. As before, investors are counting on fairly strong data that would allow the US Federal Reserve to begin a gradual reduction of existing incentives, as the representative of the regulator, Richard Clarida, spoke about this week, for example.In turn, the speech of the head of the Reserve Bank of Australia (RBA) Philip Lowe provides moderate support for the instrument today. In his speech, the official spoke a lot about the outstanding pace of recovery of the Australian economy, and also noted that the unemployment rate in June fell to 4.9%, which was even lower than it was before the pandemic. The head of the regulator stressed the effectiveness of the measures taken, which made it possible to achieve such results.Support and resistance levelsThe Bollinger bands on the daily chart show flat dynamics within the forex forecast. The price range is actively narrowing from the bottom, indicating the mixed nature of trading in recent days. The MACD indicator is growing, maintaining a weak buy signal (the histogram is located above the signal line). Stochastic, approaching the "80" mark, turned down again, reacting to the "bearish" dynamics of the Friday morning session.Resistance levels: 0.7412, 0.7443, 0.7475, 0.7500.Support levels: 0.7370, 0.7338, 0.7300.Trading ScenariosThus, AUD/USD forex forecast for August 9-10, 2021 to open long positions, you can rely on the breakdown of the 0.7412 mark up. Take profit — 0.7475. The stop loss is 0.7380. Implementation period: 2-3 days.A confident breakdown of the 0.7370 level down may be a signal for new sales with a target of 0.7300. The stop loss is 0.7412.
Aug 06, 2021 Read
GBP/USD pound dollar forecast for today and August 9-10, 2021
GBP/USD pound dollar forecast for today and August 9-10, 2021 Against the background of the ongoing stagnation of the US dollar, the GBP/USD pair is moving in a local uptrend, trading around the 1.3916 mark.The meeting of the Bank of England, which took place the day before, ended with the expected decision to leave the interest rate and the main parameters of monetary policy unchanged. All eight members of the regulator voted to maintain the indicator at the level of 0.10% and the volume of the quantitative easing program at the level of 875 billion pounds. The ministry said that it expects a further increase in inflation in the near future from the current 2.5% to 3.0% by the end of the year, after which the indicator will naturally stabilize and return to the target level of 2.0%.The US currency index is being adjusted, being near the key mark of 92,000. Investors were disappointed by yesterday's data on applications for unemployment benefits, the number of which amounted to 385 thousand instead of the expected 384 thousand. The main attention of market players is focused on the data on the unemployment rate for July and on employment in the non-agricultural sector, which will be published today. Analysts expect a significant improvement in both indicators: unemployment is projected at 5.7% instead of 5.9% in June, and the growth of the labor force in the non-agricultural sector is expected at the level of 870 thousand.Support and resistance levelsThe instrument moves within the framework of the global descending "head and shoulders" pattern, correcting upwards in the process of forming the second "shoulder".Technical indicators gave a local buy signal: fast EMAS on the alligator indicator crossed the signal line from the bottom up, and the histogram of the AO oscillator moved into the buy zone within the forex forecast.Resistance levels: 1.3985, 1.4181.Support levels: 1.3805, 1.3589.Trading ScenariosThus, GBP/USD forecast pound dollar for August 9-10, 2021 in the event of continued corrective growth of the asset, as well as consolidation above the local resistance level at 1.3985, buy positions with a target of 1.4181 will be relevant. The stop loss is 1.3920. Implementation period: 7 days or more.If the asset continues to decline, as well as consolidation below the local support level at 1.3805, it is important to open sell positions with a target of 1.3589. The stop loss is 1.3900.
Aug 06, 2021 Read
EUR/USD Euro dollar forecast for today and August 9-10, 2021
EUR/USD Euro dollar forecast for today and August 9-10, 2021 The European currency is declining against the US dollar during the Asian session, updating local lows since July 28 and preparing to end the week with a moderate decline. However, market activity will remain high, as investors will focus on the US labor market report for July, which will be released today.Attention to the upcoming publication is increased partly because earlier the representative of the US Federal Reserve, Richard Clarida, said that the regulator could start reducing incentives this year if the pace of economic recovery does not fall amid an increase in the incidence of coronavirus. It is also worth noting that the bidders were somewhat disappointed with the ADP report on employment in the private sector, which reflected a sharp slowdown in the growth of new jobs in July from 680 thousand to 330 thousand, which did not meet the optimistic forecasts and expectations.Support and resistance levelsThe Bollinger bands on the daily chart show moderate growth within the framework of the forex forecast. The price range is narrowing, reflecting the appearance of mixed trading dynamics in the short term. The MACD indicator turned downwards and formed a weak sell signal (the histogram is located below the signal line). Stochastic maintains a confident downward trend, but is located in the immediate vicinity of its minimum values, indicating the risks of oversold euro in the ultra-short term.Resistance levels: 1.1849, 1.1900, 1.1950.Support levels: 1.1800, 1.1751, 1.1700.Trading ScenariosThus, EUR/USD forecast of the euro dollar for August 9-10, 2021, to open new short positions, you can rely on a confident breakdown of the 1.1800 level down. Take profit — 1.1700. The stop loss is 1.1849. Implementation period: 1-2 days.The return of the "bullish" dynamics to the market with a breakdown of the 1.1849 level up may be a signal for new purchases with a target of 1.1950. The stop loss is 1.1800.
Aug 06, 2021 Read
USD/JPY Dollar Yen forecast for today and August 6-9, 2021
USD/JPY Dollar Yen forecast for today and August 6-9, 2021 Today, during the Asian session, the USD/JPY pair is growing moderately, developing a powerful "bullish" momentum formed the day before, and updating local highs since August 2.On Wednesday, buyers became noticeably more active, reacting to an unexpectedly optimistic speech by Richard Clarida, a representative of the US Federal Reserve's Open Market Committee (FOMC), who said that the reduction of existing incentives could take place as early as this calendar year. As a possible reason for such a decision, the official called the risks of accelerating inflation, which have been worrying the bidders for a long time. Additional support for the US currency was provided by the published index of business activity in the services sector from ISM. In July, the indicator rose sharply from 60.1 to 64.1 points, while analysts expected it to increase only to 60.4 points.The focus of attention of bidders on Thursday will be statistics from the United States on the dynamics of primary and secondary applications for unemployment benefits. Market activity is likely to remain subdued as traders prepare for the publication of the final report on the US labor market, scheduled for Friday.Support and resistance levelsOn the daily chart, the Bollinger bands are moving flat within the forex forecast. The price range practically does not change, but it remains quite spacious for the current level of activity in the market. The MACD indicator has turned in the direction of growth and is currently forming a buy signal (the histogram tends to be located above the signal line). Stochastic shows a similar dynamics, signaling in favor of the growth of the instrument in the ultra-short term.Resistance levels: 110.00, 110.38, 110.68, 111.00.Support levels: 109.57, 109.29, 109.00, 108.71.Trading ScenariosThus, USD/JPY Dollar Yen forecast for August 6-9, 2021, long positions can be opened after the breakdown of the 110.00 level up with the goal of 110.68. Stop loss is 109.65. Implementation period: 2-3 days.Short positions can be opened after a rebound from the level of 110.00 and a breakdown of the level of 109.57 down with the goal of 109.00. Stop loss — 109.80.
Aug 05, 2021 Read
GBP/USD pound dollar forecast for today and August 6-9, 2021
GBP/USD pound dollar forecast for today and August 6-9, 2021 The British pound is trading with an upward trend against the US dollar in the morning session, again trying to gain a foothold above the 1.3900 mark.The "bulls" are winning back the positions lost the day before, when the US currency received an impulse to grow against the background of optimistic statements by the representative of the US Federal Reserve Richard Clarida that the regulator is considering the possibility of reducing existing incentives this year. However, a more confident growth of the dollar was hindered by an unexpectedly weak ADP report on employment in the private sector. In July, the US economy created only 330 thousand jobs, while market forecasts suggested their growth by almost 700 thousand.Today, British investors will follow the publication of the minutes of the Bank of England's interest rate meeting. The market again does not expect any changes in the vector of monetary policy, but comments and updated forecasts will be very important. The UK economy is showing optimistic results, besides, the country is managing to cope with the next wave of coronavirus cases, so analysts do not predict new restrictions.Support and resistance levelsThe Bollinger bands on the daily chart show quite active growth within the framework of the forex forecast. The price range is narrowing, reacting to the mixed dynamics of recent days, but it remains quite spacious for the current level of activity in the market. The MACD indicator is trying to turn downwards, but it retains the previous buy signal (the histogram is located above the signal line). Stochastic, on the contrary, shows a steady decline, practically not reacting to attempts to increase the instrument at the beginning of the week.Resistance levels: 1.3900, 1.3960, 1.4000.Support levels: 1.3857, 1.3800, 1.3750, 1.3700.Trading ScenariosThus, GBP/USD forecast pound dollar for August 6-9, 2021 to open long positions, you can rely on a confident breakdown of the 1.3900 level up. Take profit — 1.4000. The stop loss is 1.3857. Implementation period: 1-2 days.A rebound from the 1.3900 level as a resistance, followed by a breakdown of the 1.3857 mark down, may be a signal for new sales with a target of 1.3750. The stop loss is 1.3910.
Aug 05, 2021 Read
EUR/USD Euro dollar forecast for today and August 6-9, 2021
EUR/USD Euro dollar forecast for today and August 6-9, 2021 Against the background of a significant decline in the macroeconomic indicators of the European Union, the EUR/USD pair is adjusted downwards, trading around the 1.1837 mark.The attempts of the European currency to gain a foothold in the uptrend did not last long, and the next batch of statistics turned out to be disappointing. Business activity in the main sectors of the leading EU economies significantly decreased in July. The Spanish services sector fell to 61.9 points, which is worse than the forecast of 63.0 points. The business activity of the Italian services sector amounted to 58.0 points, which is lower than the predicted 58.3 points. The same indicator in France fell to 56.8 points from 57.8 points in June, and in Germany - to 61.8 points, which is lower than the projected 62.2 points. As a result, the consolidated indicator for the EU was 59.8 points, which is lower than the projected 60.4 points.The negative dynamics of the US dollar does not allow the asset to decline further. In July, employment in the US non-agricultural sector fell to 330 thousand from 680 thousand in the previous month, although analysts predicted an increase in the number of workers to 695 thousand.Support and resistance levelsOn the global chart, the price forms a global "head and shoulders" pattern within the framework of the forex forecast. Technical indicators hold a weak sell signal: the fast EMAS on the alligator indicator are below the signal line, and the histogram of the AO oscillator is ready to fall into the negative zone after crossing the zero level.Resistance levels: 1.1895, 1.2037.Support levels: 1.1783, 1.1650.Trading ScenariosThus, EUR/USD forecast of the euro dollar for August 6-9, 2021, if the asset continues to decline, as well as fixing below the local support at 1.1783, it is possible to open sell positions with a target of 1.1650. The stop loss should be set at 1.1830. Implementation period: 5 days.In the event of a reversal and growth of the asset, as well as consolidation above the local resistance at 1.1895, buy positions with a target around 1.2037 will become relevant. The stop loss should be placed around the 1.1840 mark.
Aug 05, 2021 Read
Analysis and forecast of the oil price for today and August 5-6, 2021
Analysis and forecast of the oil price for today and August 5-6, 2021 Today, during the Asian session, Brent Crude Oil prices show flat dynamics, consolidating near the $72 per barrel markSince the beginning of the week, the instrument has significantly decreased, updating the local lows of July 21. The reason was the alarming mood in the market regarding the next increase in the incidence of coronavirus in certain regions of the world, in particular, in the United States and China, which are the main consumers of petroleum products. In addition, investors still expect the return of Iranian oil to the market amid active negotiations between Iran and the United States on the nuclear program.In turn, a small support for the quotes of "black gold" on Tuesday was provided by a published report from the American Petroleum Institute (API) on reserves. For the week of July 30, the indicator again decreased by 0.879 million barrels after a decrease of 4.728 million barrels for the last reporting period. On Wednesday, bidders expect the publication of final data on reserves from the US Department of Energy.Support and resistance levelsOn the daily chart, the Bollinger bands are uncertainly declining, leaning towards a reversal in the horizontal plane within the forex forecast. The price range practically does not change, but it remains quite spacious for the current level of activity in the market. The MACD indicator is declining, maintaining a strong sell signal (the histogram is located below the signal line). Stochastic shows similar dynamics, but it is rapidly approaching its minimum levels, indicating the risks of oversold instrument in the ultra-short term.Resistance levels: 73.00, 74.00, 75.50, 76.91.Support levels: 71.80, 71.00, 70.00, 69.00.Trading ScenariosThus, the analysis and forecast of oil prices for August 5-6, 2021, short positions can be opened after the breakdown of the level of 71.80 down with the goal of 70.00. Stop loss — 72.30. Implementation period: 1-2 days.Long positions can be opened after a rebound from the 71.80 level and a breakdown of the 73.00 level up with the goal of 75.50. Stop loss — 71.80.
Aug 04, 2021 Read
AUD/USD forex forecast and analytics today and August 5-6, 2021
AUD/USD forex forecast and analytics today and August 5-6, 2021 The Australian dollar shows a slight increase against the US currency in the Asian session, trying to gain a foothold above the 0.7400 mark. The tool quickly compensates for the results of the "bearish" dynamics at the end of the past week. Purchasing activity in the Australian currency was supported yesterday by the minutes of the Reserve Bank of Australia (RBA) meeting, which confirmed the regulator's readiness to adjust the volume of the quantitative easing program downwards in the near future.Macroeconomic statistics from Australia do not find a noticeable response in the market. So, yesterday, traders reacted negatively to a decrease in mortgage lending volumes in June by 2.5% mom after an increase of 1.9% m/m in May. Today, the index of business activity in the construction sector from AiG added to the negative. In July, the indicator fell from 55.5 to 48.7 points, which turned out to be significantly worse than the average market forecasts.Support and resistance levelsThe Bollinger bands on the daily chart show a reversal in the horizontal plane within the forex forecast. The price range is fixed within fairly narrow boundaries, which prevent the development of corrective growth in the short term. The MACD indicator is growing, maintaining a relatively strong buy signal (the histogram is located above the signal line). Stochastic turned up again after a short decline, but is quickly approaching its maximum levels, indicating the risks of overbought in the ultra-short term.Resistance levels: 0.7412, 0.7443, 0.7475, 0.7500.Support levels: 0.7370, 0.7338, 0.7300Trading ScenariosThus, AUD/USD forex forecast for August 5-6, 2021 to open long positions, you can rely on the breakdown of the 0.7412 mark up. Take profit - 0.7475-0.7500. The stop loss is 0.7370. Implementation period: 2-3 days.A rebound from the level of 0.7412 as a resistance, followed by a breakdown of the 0.7370 mark down, can be a signal for new sales with a target of 0.7300. The stop loss is 0.7400.
Aug 04, 2021 Read
Message sent successfully.
We will contact you soon!