ByJin Dao Tai
AUG 27, 2021
Overall, AUD/USD is trending downwards. Recently, AUD/USD traded lower into the support zone of 0.72200.
The Australian Retail Sales m/m data (Forecast: -2.6%, Previous: -1.8%) will be released later at 0930 (GMT+8).
Day 1 of the Jackson Hole Symposium will be held today. During this time, expect volatility in AUD/USD.
Currently, AUD/USD is testing the support zone of 0.72200 and the next resistance zone is at 0.73300.
If AUD/USD breaks the support zone of 0.72200, look for short-term selling opportunities up until the Federal Reserve Chairman Powell’s speech at 2200 (GMT+8).
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