On the other hand, Bearish traders may find support at 81.13 in the coming trading sessions.
AUD/JPY 4 hourly chart
(Source: Fxstreet)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Currently, Daily High is 81.749 while daily low is 81.456.
A bearish crossover between the 20- and 50-day SMAs suggests a near-term technical tendency to the downside.
The 200-day SMA, on the other hand, is approaching, and it could reintroduce the main upward trend as critical support.
(Source: FX Street)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
High interest rates in India attract foreign investors to earn high returns for their savings which increases demand & value of the Rupee against AUD and vice versa. Presently the cash rates are 8.5% and 2.25% for Reserve Bank of India and Reserve Bank of Australia respectively.
Inflation is general price rise over a period of time. A prices rise will buy you less i.e. it erodes the value of money over time. Presently India is facing high inflation of about 5.5% to 8.5% which decreases the demand for Rupees. And Australia facing relatively low inflation approx to 1.3% creates safer option to invest for the investor and increases demand for the AUD but the Rupee falls. Investors’ confidence changes with political stability affecting the price of currency which causes the decrease in value of the Indian currency against the AUD.
Rise in exports for a foreign country appreciates the value of currency of the country. If we import from Australia the payment has to be done in Australian dollars which increases the value and demand for AUD. And opposite is the case with increase in imports i.e. it will devalue the local currency. And this difference between the imports and exports for the country is termed as Balance of Payment. If the imports are greater than exports then, local currency will fall and vice versa.
India and Australia are negotiating a free trade deal that would allow goods to flow freely between the two countries without additional taxes, tariffs or import quotas. This would help in balancing import/export imbalances. As a result, the currency is anticipated to be more stable.
(Source: Orbitremit)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Meanwhile, before aiming for the monthly declining trend line near 83.50, the corrective bounce will have to clear the 82.80 immediate barriers.
The late May low near the 84.00 round figure is also acting as a major upside hurdle.
To sum up, the AUD/JPY remains under pressure, although bearish are waiting for confirmation of even more losses.
(Source: Fxstreet)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
AUD/JPY Daily Chart
The price is in a negative trend, and given the recent pullback, which has started to lose steam, there is a chance that the trend will continue to the downside.
Current high is at 82.251 and current low is 81.881.
(Source: FX Street)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
After the largest virus infections since September, Australian policymakers tighten activity restrictions in crucial locations, such as New South Wales, while also indicating that lockdowns will be extended for a few weeks.
On the other side, Japanese officials have already extended the Tokyo emergency and are prepared to provide free vaccine passports, not to mention hold no-spectator Olympics, in order to deflect criticism of holding a sporting event in the midst of a pandemic.
Alternatively, UK diplomats continue to work on a July 19 unlock date, while US health officials deny the necessity for Pfizer booster shots for fully vaccinated Americans.
Stock futures are actually moving near the record high, while shares in Australia and Japan have gained 0.50 percent and 0.78 percent, respectively, as of press time. The 10-year Treasury yields in the United States have remained firmer for the third day in a row.
Moving on, the conflicting headlines and China’s June trade data may entice intraday traders. However, the Bank of Japan’s (BOJ) monetary policy meeting this week will be closely watched, as officials may reduce economic predictions in the wake of the virus’s recovery, putting pressure on the Japanese yen (JPY).
(Source: FX Street)
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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
But, there seems to be a strong resistance above that should and most likely will come into play. After all, Australia is strengthening its lock down and is unlikely to reopen anytime soon, so the Australian dollar should continue to be weighed down over time.
Moreover, there is still a rising “risk off” mindset which supports the greenback around the world.
The psychological impact of the 0.75 level is very significant, so all things being equal, and a belief that market that will find reasons to collapse.
If this pair drops to the 0.70 level in the coming months based on longer-term technical analysis, there would be any surprise.
(Source: FXEMPIRE)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
The resistance level can be seen at 0.7462, further uplifted to 0.7476, 0.7513, and 0.7533. While the fresh support level can be seen at 0.7413 & 0.7372 and breakdown further at 0.7339 & 0.7282 and so on.
The RSI (relative strength index) was marked at 39.64.
Bears are exerting pressure on critical levels at 0.7417/13, and a clear break here would confirm the bearish signal and pave the way for a deeper drop.
(Source: Fxstreet)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Daily Candlestick Chart
While there is still a bearish crossover between the 20- and 50-day SMAs, the 200-day counterpart could keep the attention on the upward.
Positive RSI divergence is also present, which could signal a move higher towards the SMAs in the short term.
(Source: Daily FX)
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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
AUD/USD 4-hour chart
The AUD/USD on the 4-hour chart, pair has been confronting solid resistance at the constantly falling trend line from Wednesday’s high around 0.7600 marks.
The bears might then capture the horizontal support levels of 0.7465 and 0.7445. The AUD/USD bears will then hunt upon on 0.7409 falls on Friday. However it may reverse the current trend and move north if the price breaks the bearish slope line.
The critical psychological level of 0.7500 would be the first priority for bulls in line.
There is marked 0.7520 horizontal resistance level that would then be followed by the 0.7535 high of Wednesday.
(Source: FXSTREET)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
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