FOREX REPORT AUD / USD 1ST AGUSUT 2021

 

AUD/USD FOREX REPORT

 Primary cycles look bearish and could see price down into the 2021 50% level at .6988

However, we often see double bottoms play out and the reverse upwards - June down into July lows.

We have just recently seen the same patterns in Crypto Markets.

Therefore, an open above 0.7380  could see a move back up into .7533, which will form resistance.

A weekly close above the August 50% level, will then see another attempt at the 2021 highs in the back half of the 3rd Quarter.

AUS/USD Forex Report 4th July 2021

 

AUD/ USD Primary & Monthly Cycles

I still have the view that the AUD will reach the 2021 highs at 0.81.

We often see this price action in markets, especially price comes down into June lows, then dips down into July lows 0.73’s (Double bottom) and then swings higher.

 

If that plays out, then validate it with price back above 0.7533 (July – October) - Secondary Cycle