AUD/USD Weekly Analysis – Friday, July 13

AUD/USD is facing 1.7420 resistance. A break of this level would indicate that the downside movement from 0.7483 had completed at 0.7360 already, then another rise towards 0.7600 could be seen. However, as long as 0.7420 resistance holds, the bounce from 0.7360 would possibly be corrective consolidation for the downside movement, and a breakdown below 0.7360 support could trigger another fall towards 0.7300.

AUDUSD 4-hour chart

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