Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
AUD Q1 2022 Technical Forecast: AUD/USD, It’s all About the 7000 Level

AUD Q1 2022 Technical Forecast: AUD/USD, It’s all About the 7000 Level

Top Trading Opportunities in this Quarter
Top Trading Opportunities in this Quarter
Recommended by Paul Robinson
See All the DFX Analysts Top Trades for 1Q!
Get My Guide

AUD/USD was weak for almost all of 2021, with the yearly high developing in February. The trend lower wasn’t the cleanest overall, but there were certainly periods where one-way momentum was strong. More periodic momentum is anticipated as we head into a new year.

What is seen as the big deciding factor for the general trading bias is how 7000 is handled moving forward. It’s not just a psychological level, it’s a real level that has been in play on numerous occasions since 2018. At times it has acted as both strong support and resistance.

7000 is currently viewed through the lens of support as it recently held for the first time since November 2020. The emphatic bounce off 7000 in December shows that its importance as a major level hasn’t waned with time.

While the 2021 trend remains against AUD, if the level continues to hold there is reason to at least be neutral, and that could change to a more bullish outlook with time. A meaningful break below 7000 on a weekly closing basis, however, could usher in another wave of selling during Q1.

AUD/USD Weekly Chart

Chart prepared by Paul Robinson, created with TradingView

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.