AUD/USD Outlook (19 August 2021) Short

Australian Dollar/U.S. DollarFXCM

Description

⋅ Aug 19, 2021 12:50 AM

Overall, AUD/USD is trending downwards. Recently, AUD/USD weakened after the release of the hawkish Federal Reserve meeting minutes.

The Australian employment data will be released later at 0930 (GMT+8).

Employment Change (Forecast: -46.0K, Previous: 29.1K)
Unemployment Rate (Forecast: 5.0%, Previous: 4.9%)

Reserve Bank of Australia Assistant Governor Kent will be speaking tomorrow at 0705 (GMT+8). During this time, there may be volatility in AUD.

Currently, AUD/USD is testing the support zone of 0.72200 and the next resistance zone is at 0.73300.
Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.72200.