CB Leading Index: Tuesday, 14:30. The Conference Board Index is based on 8 economic indicators. The index posted a soft gain of 0.1% in April. We will now receive the reading for June.
*All times are GMT
AUD/USD Technical Analysis
Technical lines from top to bottom:
We start at 0.7340, which has held in resistance since early December.
0.7315 was a swing high seen in late September.
0.7240 separated ranges in September and in October.
0.7165 (mentioned last week) has held in resistance since early April.
0.7085 was a low point in September.
0.7022 was relevant throughout the week.
0.6988 marked the low point in April.
0.6940 has held in support since late June.
0.6864 was a low point in May.
0.6744 was a low point in January.
0.6686 was a cap back in January 2000.
I remain bearish on AUD/USD
After back-to-back rate cuts from the RBA, the Aussie has become less attractive to investors. With Chinese growth slowing due to the tariff war with the U.S., the currency may have trouble holding its own against the greenback.
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