NZD Surged But Couldn't Overcome Resilient Dollar and Yen
Action Insight Weekly Report 7-24-21
Stocks Closed at Records as Delta Worries Receded, Dollar Index Holding On to Weak Rally

It has been a very volatile week as risk markets were initial knocked down by fear of the infectious delta variant. But sentiment made an about-turn then, even with US indexes closing at record highs. Still, despite late recovery, Australian Dollar ended as the weakest one. Yen was surprisingly the second worst performing, given that it was the early star in the week.

Canadian Dollar ended as strongest but we'd doubt if it's strong could sustain. Dollar maintain a second place after all the moves. Euro was mixed with little reaction to ECB's new forward guidance. Sterling was also mixed, but seemed to be getting out of the clouds over the "freedom day".

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AUD/USD Weekly Outlook

AUD/USD dropped further to as low as 0.7288 last week but formed a temporary low there and recovered. Initial bias remains neutral this week first and some consolidations could be seen. But outlook will stay bearish as long as 0.7443 support turned resistance holds. Break of 0.7288 will resume the whole decline from 0.8006 to 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next. However, break of 0.7443 will bring stronger rebound to 0.7530 support turned resistance instead.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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