CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

AUD/USD

Market Opportunities - 10/08/2021

10 August, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

AUD/USD Weekly downtrend opportunity based On 1.00 Lot Calculation:

  • EVENT: Wednesday, August 11 at 13:30 GMT+1 – The US (CPI) inflation data for July. High inflation in the US strengthened the argument for an early move to tightening of the US Federal Reserve’s monetary policy. Expectations for the headline inflation stand at 5.3% after it posted a 5.4% increase in June;
  • Sustained US dollar buying interest and worries about rising COVID-19 cases across Australia and China are pulling down this currency pair;
  • The currency pair is in a strong downtrend that may continue.

AUD/USD, August 10, 2021
Current Price: 0.7337

AUD/USD

Weekly

Trend Direction

DOWN

Resistance 3

0.7447

Resistance 2

0.7427

Resistance 1

0.7407

Support 1

0.7267

Support 2

0.7247

Support 3

0.7227

Example of calculation based on weekly trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

-1,100

-900

-700

700

900

1,100

Profit or loss Short in €**

-938

-767

-597

597

767

938

Profit or loss Short in £**

-794

-649

-505

505

649

794

Profit or loss Short in C$**

-1,383

-1,131

-880

880

1,131

1,383

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:20 (GMT+1) 10/8/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

Share It With Your Network
Australian Dollar - US Dollar Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now