Fri, Jul 30, 2021 @ 01:24 GMT
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EUR/JPY decline likely to continue

The Australian Dollar depreciated about 100 basis points against the US Dollar on Tuesday. The decline began after a negative macroeconomic data releases from Australian.

As for the near future, the AUD/USD currency pair will most likely continue to fall. The potential target for bearish traders would be near the weekly S1 at 0.6659.

If the support level holds, a brief upside retracement could occur during the following trading session.

However, if the currency exchange rate passes the weekly S1, the next target for bears would be at the 0.6634 area.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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