AUDUSD Technical Analysis – July 14, 2021

AUDUSD fell on Tuesday. The technical bias was bearish due to lower lows in the recent downtrend.

The pair the currently trading near 0.74478, and multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 0.74750
  • Resistance level 2: 0.75000
  • Resistance level 3: 0.75330

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 0.74250
  • Support level 2: 0.74000
  • Support level 3: 0.73800

Australia will announce the June’s unemployment rate data on Thursday. Higher unemployment rate will indicate that it is negative for the Australian dollar and AUDUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the AUDUSD currency pair near the current level.