AUD/USD Outlook (01 October 2021)
Overall, AUD/USD is trending downwards. Recently, AUD/USD traded into the resistance zone of 0.72200.
The Australian Building Approvals m/m data (Actual: 6.8%, Forecast: -5.1%, Previous: -8.6%) released yesterday indicated a recovery in the number of building permits issued for construction of buildings in August.
Most Australian banks will be closed next Monday in observance of Labor Day. Expect lower trading volatility and volume during the usual Australian market hours.
Currently, AUD/USD is testing the resistance zone of 0.72200 and the next support zone is at 0.71000.
Look for short-term selling opportunities of AUD/USD if it rejects the support zone of 0.71000.
The Australian Building Approvals m/m data (Actual: 6.8%, Forecast: -5.1%, Previous: -8.6%) released yesterday indicated a recovery in the number of building permits issued for construction of buildings in August.
Most Australian banks will be closed next Monday in observance of Labor Day. Expect lower trading volatility and volume during the usual Australian market hours.
Currently, AUD/USD is testing the resistance zone of 0.72200 and the next support zone is at 0.71000.
Look for short-term selling opportunities of AUD/USD if it rejects the support zone of 0.71000.
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"Look for short-term selling opportunities of AUD/USD if it rejects the resistance zone of 0.72200."
Apologies for the typo.