AUD/USD Technical Outlook: Charting the Downtrend and Potential Reversals

View this email online. AUD/USD Technical Outlook: Charting the Downtrend and Potential Reversals The Aussie dollar had previously enjoyed a period of appreciation as the RBA talked tough on inflation, even considering rate hikes at the recent meeting, while US inflation has edged lower still – prompting renewed rate hike expectations from the Fed as soon as September. READ MORE Market Analysis Recent market data indicates notable performance variations among key currencies, with the Japanese yen showing relative strength while the Australian dollar underperforms.  READ MORE   The rebound from 5500 would now target the previous week’s highs, should we see further gains. From there it would be just a short move to new record highs. A close below 5500 signals more short-term weakness is likely. READ MORE   Gold has appreciated, buoyed by last week’s lower US CPI data with the path of least resistance to the upside. READ MORE The cryptocurrency market turned higher over the weekend and in early European trade, regaining some of June’s hefty losses. READ MORE Ethereum spot ETFs are set to begin trading today, giving a larger audience a second cryptocurrency exchange-traded fund to look at after Bitcoin spot ETFs hit the market in early January this year.  READ MORE A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential.  READ MORE Trading Skills Enhancement TRADING EDUCATION Learn to trade with DailyFX and take your trading knowledge and confidence to the next level. Whatever your trading experience is, our expert analysts and market writers can help you navigate a range of market conditions and trading styles, setting you on the road to consistent trading. Our online education is divided into three sections according to experience level   LEARN MORE TRADING TOOLS View current trader sentiment and discover who is going long and short, the percentage change over time, and whether market signals are bullish or bearish with IG Client Sentiment.   LEARN MORE Use our economic calendar to explore key global events on the horizon that could subtly shift or substantially shake up the financial markets.   LEARN MORE CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Kind regards DailyFX dailyfx.com Cannon Bridge House, 25 Dowgate Hill, London, United Kingdom, EC4R 2YA. Trading financial instruments, including leveraged foreign currencies, carries a high degree of risk and your losses may exceed your deposits. Trading is not suitable for all. You should carefully consider whether trading is right for you in light of your investment experience and financial resources. Past performance is not indicative of future results. This commentary is for general informational purposes and does not constitute advice or a solicitation. While DailyFX has taken reasonable measures to verify the accuracy of the information herein, DailyFX makes no guarantee as to its accuracy or completeness. This information is subject to change at any time without notice. DailyFX is not liable for any loss or damage which may arise from the use of any information in this commentary. Please read the full Risk Disclosure, as well as our Privacy Policy. You received this email because of your relationship with DailyFX. To manage your preferences or unsubscribe from our marketing communications click here.   © 2024 IG