Australian dollar fails at 74.70 for the second day in a row and pulls back to 74.20. The aussie loses momentum as risk appetite falters amid growing coronavirus cases in the US. AUD/JPY consolidates above recent ranges after a 1.4% rally earlier this week. The AUD/JPY has been capped at 74.70 for the second consecutive day on Thursday and the pair retreated during the US trading session although it remains steady above 74.20. On a bigger picture, the aussie is consolidating gains after a 1.4% rally earlier this week. The aussie loses ground as risk appetite falters The risk-sensitive Australian dollar has been buoyed by positive macroeconomic indicators this week, yet with the looming concerns on a second COVID-19 wave, weighing on sentiment. The AUD/JPY opened the day on a strong footing, practically unaffected by downbeat expected Australian trade balance data. Australian trade balance declined to 8,025 M in June from the 8,800M surplus reported in May, against market expectations of an increase to 9,000M The pair rushed up during the European session to retest Wednesday’s high at 74.70 before pulling back again as the market shifted its focus on the increase of coronavirus infections in the US. AUD/JPY limited below 74.70 resistance On the upside, immediate resistance lies at 74.70 (Jul. 1 high) and above here, 75.05 (Jun. 16 high) and 75.60 (Jun. 10 high). On the downside, immediate support lies at 74.20 (intra-day low) and below here, 73.90 (Jul 1 low) and 73.18 (Jun. 30 low). AUD/JPY key levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Market is too downbeat on a potentially good outcome – Standard Chartered FX Street 3 years Australian dollar fails at 74.70 for the second day in a row and pulls back to 74.20. The aussie loses momentum as risk appetite falters amid growing coronavirus cases in the US. AUD/JPY consolidates above recent ranges after a 1.4% rally earlier this week. The AUD/JPY has been capped at 74.70 for the second consecutive day on Thursday and the pair retreated during the US trading session although it remains steady above 74.20. On a bigger picture, the aussie is consolidating gains after a 1.4% rally earlier this week. The aussie loses ground as risk appetite falters The risk-sensitive Australian dollar has… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
