AUD/USD Though it rise 1.5 % I am not buying it's story.

4 Jul 2020

Though AUD/USD did jump to 1.5%, the fact of the economy started reopening, but the economy banking on a vaccine at this point is still skeptical. Much debate on whether it is safe is another story. Cash Rate has been down 25% for several months and the July report will most likely show an increase. However with the rise of more cases concerning the coronavirus, possible states considering closing, and travel restrictions. This will affect the economy in a down trend. As of right now, I see support to hit 69470 and retrace to 68720.