- AUD / USD Forecast shows the Australian dollar down due to bad danger.
- Trump will soon publish greater tariffs that will take effect on August 1.
- The market focus is at the Australia’s spare bank meeting.
The AUD / USD focus shows that bears are in the middle of a bad risk feeling. The market participants are concerned about the Trump’s efforts of reciprocal and its potential implications. At the same time, they are prepared for a probable assessment during the RB Policy meeting on Tuesday.
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Trump’s deadline quickly approaches, and most American trading partners have yet to sign trading bids to avoid greater imposition.
So far, only China is Vietnam and UK on the safe side. By Wednesday, Trump could announce greater tariffs that will take effect on August 1. These tariffs will submit trade tensions and further injure risk appetite. Aussie sensitive risk will suffer in such an environment.
At the same time, the market focus is at the Australian Policy Spare Bank meeting. According to economists, the Central Bank is expected to reduce the rate for the third time. That move can weigh on the Australian dollar. Traders will also pay attention to the tone during the meeting. Inflation in Australia was facilitated, and the economy slowed down. Therefore, there is pressure on the Central Bank to reduce borrowing costs. Damiljsky from the expected tone will increase the expectations of the stop.
AUD / USD Key events Today
The market participants do not expect any key issues from Australia or the US. Therefore, all focus will remain in trade development.
AUD / USD Technical forecast: New Facality of Persons with Solid Support Zone
On the technical side of AUD, he experienced a sharp drop after breaking under 30ths. The price reached a strong support zone containing the level of FIB from 0.382 and a level of key from 0.6500. Meanwhile, the Bear Bias is strong, because the price trades below 30ths, with RSI near the reselled region.
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The break below the support zone will strengthen the bear bias and clean the road for AUD / USD to reach the support level of 0.6400. However, after so steep fall, the bears may need to pause breath before breaking under the support zone.
Pause can allow the price to bounce and pull 30 SMA before it continues below. Bear bias will remain strong until the price remains below SMA.
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