AUD - Aussie shows initial bottom, eyes on interest rate decision next week

The Australian dollar is initially bottoming out, focusing on the interest rate decision next week

In terms of technical trends, the AUD/USD fell to 0.6870 last Thursday, slightly higher than the low of 0.6850 on June 14, and also above the low of 0.6829 on May 12. Under the circumstance that the bottom is moving up step by step, It is expected that the Australian dollar has a greater chance of building a bottom and rising. At present, we should pay attention to the 25-day average that has not been broken in the past two weeks. It is currently located at the 0.7060 level, and then the greater resistance will refer to the 0.72 and 250-day average of 0.7250. As for the bottom support material is 0.6880 and even the low of 0.6829 on May 12, the next level points to the 0.6650 level.

Estimated volatility:
Resistance 0.7060 - 0.7200 – 0.7250*
Support 0.6880 - 0.6829* - 0.6650

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