Desktop, tablet & mobile - Forex trading platform

Australian Financial Services (AFS) Licence 246566

easyMarkets Daily Outlook

Daily Outlook
Currency Trading Summary 22-Jul-2016

Written by Anthony Darvall

The AUD/USD selloff paused yesterday at 0.7450 and we have rebounded to 0.7500 where we have stabilized. A huge week of economic data next week will have a big impact on the next direction for the AUD with Wednesday’s Q2 CPI release the most important with its direct impact on whether the RBA will cut or hike on August 2nd.

 

Not to be overshadowed next week however is the US FOMC Interest Rate Decision which will impact the USD part of the AUD/USD exchange rate. Whilst no economists forecast the FED will raise rates they will be dissecting the statement for clues as how close their next Interest Rate Hike is.

Technical Analysis
 AUD/USD7/22/2016 12:38 AM Print
Trend daily chart (=) Trend weekly chart (=)
AUD/USD Intraday: key resistance at 0.7515.
Pivot: 0.7515

Our preference: short positions below 0.7515 with targets @ 0.7475 & 0.7450 in extension.

Alternative scenario: above 0.7515 look for further upside with 0.7535 & 0.7570 as targets.

Comment: as long as the resistance at 0.7515 is not surpassed, the risk of the break below 0.7475 remains high.

Supports and resistances:
0.7570 **
0.7535 ***
0.7515 **
0.7499 Last
0.7475 **
0.7450 ***
0.7430 ***

Ticker : AUD Add to my portfolio
Full Outlook

Forex Trading Platform Desktop, Tablet & Mobile

Through its real-time Forex trading platform, easyMarkets Australia offers complete suite of tool for Web, Desktop, Mobile and MT4 trading with 24 hours a day support and Dealing room service. In addition, easyMarkets provides One on One Forex training, The Forex School – Video on Demand forex trading lessons, and Forex seminars.

Why trade with easyMarkets?

  • Guaranteed Stop-Loss Rate
  • Competitive spreads
  • No commissions
  • Online Forex trading with Live, real time quotes.
  • No software downloads
  • Start trading within minutes.
  • Freeze and Trade©
platforms@2x
Daily Archive

DAILY ARCHIVE

FOREX MARKET

A summary of the previous day’s foreign exchange market movements

READ MORE >
Weekly Archive

WEEKLY ARCHIVE

CURRENCY MARKET

An in-depth market summary of the previous week’s foreign exchange trading movements

READ MORE >
Currencies Archive

CURRENCIES ARCHIVE

Weekly summary of currencies trading movements

READ MORE >

Our Awards

Try easyMarkets today

Get a free online demonstration of our leading online Forex trading platform.

Thank you for contacting us.

We have received your enquiry.

Risk Warning: easyMarkets Pty Ltd (AFSL 246566, ABN 73 107 184510) makes no recommendations as to the merits of any financial product referred to in this advertisement, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Therefore you should consider whether these products are appropriate in view of your objectives, financial situation and needs as well as considering the risks associated in dealing with those products. easyMarkets Pty Ltd recommends that you read the PDS, the Terms & Conditions and the FSG before making any decision concerning easyMarkets Pty Ltd financial products. Forex and CFD trading involves substantial risk of loss. Do not invest money you cannot afford to lose.

Follow us: