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AUD/USD holding steady but for how long? JPY shows enthusiasm

August 13, 2020 by Mario Soto

The Aussie is struggling to gain any momentum to the upside but it still shows promise. When all seemed lost in the intraday movement with the currency falling to 0.7109 before before picking itself up and recovering strongly for the day. Could we see it gather momentum as break resistance at 0.7200? Not likely. However a break past this level could see the pair travel to 0.7200. Currently we see a support level at 0.7155, 0.7130 and 0.7109. USD/JPY 107.00 the target. Although we have seen downward pressure in the last 24 hours with the USD/JPY. A chance remains for the pair to drop further but a move below 106.45 is unlikely. with momentum giving it legs, we can see the dollar trade to 107.00

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