AUDUSD Daily Analysis: July 22, 2021 - Commodities Rise, Aussie Strengthens

Today's AUDUSD Daily Analysis will discuss the movement of the Australian currency against the US Dollar. In market trading on Wednesday, the Aussie currency strengthened against the US Dollar. The strengthening of the Aussie was supported by the increase in the price of Australian commodity products, namely Iron Ore and Copper. In addition, the weakness of the US dollar also contributed to the strengthening of the Aussie. For today's market movement, AUDUSD is expected to move to try to continue its strengthening against the Aussie currency. This was also boosted by the release of Australian economic data, namely the Goods Trade Balance which was released well above the forecast and the previous period. This data is a comparison between Australia's export and import levels in 1 month. The US Dollar currency moved weaker against several other major currencies. The weakening of the US Dollar is due to the return of market participants' interest in risky assets in the market. Previously, the US Dollar currency was at its highest level for more than 3 months. On the other hand, market participants remain vigilant about the highly contagious Delta variant that is currently hitting countries in the world. Market participants' predictions still believe that the US dollar will still strengthen for some time to come. This is because it is supported by the plan to cut asset purchases that will be carried out by the Central Bank of the Fed. In addition, if market conditions are not clear, then market participants will switch to existing safe haven assets, namely Gold and US Dollars as well as the Japanese Yen.

AUDUSD Movement Analysis

AUDUSD prediction and analysis today is expected to continue its strengthening/rising and the recommended OP (Open Position) is BUY at the level of 0.73650. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the AUDUSD analysis today which discusses the movement of the Australian Dollar currency, the increase in the price of Australian commodities, namely Iron Ore and Copper, has made the Aussie strengthen against the US Dollar. This is due to the poor release of China's GDP data. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.