AUD/USD Weekly Financial Report: Market Trends and Predictions

Saturday, 10 August 2024, 11:08

The AUD/USD pair experienced a slight decline to 0.6479 last week but has maintained a neutral stance in subsequent trading. The initial bias indicates further consolidation is likely, although a decline remains on the horizon as long as the 0.6609 resistance is intact. A break below 0.6479 could trigger a further drop to the 0.6361 support level, suggesting traders should remain vigilant for market movements.

Actionforex — AUD/USD Weekly Financial Report: Market Trends and Predictions

AUD/USD Weekly Financial Report

The AUD/USD currency pair has recently edged lower, reaching 0.6479 last week, but has since displayed a sideways movement.

Market Evaluation

Initial bias remains neutral this week.
Further decline is expected unless 0.6609 minor resistance holds.
A break below 0.6479 could resume the fall, targeting 0.6361 support.

Conclusion

Market participants should closely monitor the price levels, as breaking key resistance and support levels will influence future trading strategies.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

AUD/USD Weekly Financial Report

Market Evaluation

Conclusion

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