AUD/USD outlook: Wednesday July 3rd

  • Monday’s lows at .9110 offer the first level of support with resistance now starting at the down-trend near .9200 (see chart).
  • Australian trade and retail sales data today as well as China services PMI and a speech from the RBA Governor.
  • The picture remains mixed on the crosses with AUD/JPY (see chart) and EUR/AUD giving the AUD some support but AUD/NZD still looking heavy.
  • The return of heavy sellers near .9250 yesterday (same as Friday last) means that level is increasing in importance.

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