empty
 
 
02.07.2021 04:45 AM
Forecast for AUD/USD on July 2, 2021

AUD/USD

The Australian dollar fell 28 points yesterday, trying to settle below the target level of 0.7490, but also below the June low of 0.7478. Now the 0.7400/10 target range is just ahead. And just below it is the support for the embedded price channel line. The price is most likely to surpass this support in order to continue moving towards the next target at 0.7344 (October 2020 high).

This image is no longer relevant

The price settled below the 0.7490 target level on the four-hour chart. At this time, the signal line of the Marlin oscillator continued to move in a narrow range. This is a technical consolidation ahead of a succeeding decline. US employment data will be released in the evening. If the optimistic forecasts come true (decrease in unemployment from 5.8% to 5.7%), then we expect a steady downward price movement.

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback