Title: AUD/USD loses traction, drops to fresh six-day lows near 0.7550

Jun 28, 2021 12:14:41 PM GMT

By: AnalysisWatch

Following closing week's rebound, the AUD/USD pair opened the brand new week in a relaxed way and moved sideways in a totally tight variety at some point of the primary 1/2 of the day. With the dollar beginning to accumulate strength, however, the pair misplaced its traction and become closing visible buying and selling at its lowest degree in almost every week at 0.7558, dropping 0.36% on an everyday basis.

The US Dollar Index (DXY) misplaced 0.55% closing week however controlled to level a restoration on Monday. In the absence of full-size essential developments, the careful marketplace temper appears to be assisting the USD locate call for in advance of the American session. At the moment, the DXY is up 0.2% at the day at 91.99.

Meanwhile, the S&P Futures exchange flat, suggesting Wall Street's principal indexes are in all likelihood to open close to Friday's final levels.

Later the session, the Dallas Fed Manufacturing Business Index for June could be seemed upon for clean impetus. There may not be any high-tier records releases featured the Australian financial docket on Tuesday.

Assessing AUD/USD's close to-time period technical outlook, "the cutting-edge motion is regarded because the early tiers of a consolidation segment and AUD is anticipated to exchange inside a 0.7520/0.7650 for now," stated UOB Group analysts.