Market Analysis
XAGUSD week ahead: silver holds gains, what to watch 2026-08-10
Silver closed last week at 63.516 after a sharp run higher, and this week is about whether that momentum holds against a stretched long position.
2 min readAUDUSD opened the week at 0.69415 and closed at 0.69827. The pair carved a weekly low of 0.69123 on Tuesday and a weekly high of 0.70208 on Wednesday. Net move was a gain of roughly 41 pips, or about 0.6 percent, with most of the ground made in the first half of the week before a fade back under 0.70.
The bundle carries no scheduled economic prints for the closing week, so the tape was driven by flow and headlines. The PBOC set its daily USD/CNY reference rate firmer than the Reuters estimate, a weaker yuan fix than the market looked for. A firmer dollar reference through the Asian session lined up with the Thursday and Friday drift lower in AUDUSD after the pair failed to hold above 0.70.
Risk headlines added noise late in the week. Unconfirmed reports that Iran targeted the King Fahd Causeway linking Bahrain and Saudi Arabia hit the wires, the kind of geopolitical flash that tends to weigh on risk-sensitive currencies like the Aussie. That backdrop helped cap the pair after Wednesday's peak at 0.70208.
The bundle lists no scheduled high-impact events for the coming week. With the calendar thin, watch the PBOC daily fix and any follow-through on the Middle East headlines. A weaker yuan fix than the Reuters estimate typically pressures the Aussie, since the two often track together as China proxy trades. A stronger fix than expected tends to support AUDUSD. On the risk side, an escalation in the Iran story usually pulls the Aussie lower, while calmer headlines let it trade back toward the prior week's range.
LHFX client positioning shows 46.4 percent long and 53.6 percent short as of 2026-07-17. That is a modest short skew. The crowd leaned against the midweek rally, so a sustained push higher would put those shorts under pressure, while a slide back toward the weekly low would reward the majority.
The weekly high at 0.70208 is the first hurdle. If price closes above it, the round-number zone near 0.7050 comes into view. If it rejects there, attention swings back to the close at 0.69827. Below that, the weekly low at 0.69123 is the level that matters, and a break under it reopens the downside seen at Monday's open near 0.69415. The Aussie's path here often mirrors moves in EUR/USD, so keep the broader dollar tone in view. You can track these levels live on your LHFX charts and open an account to follow the pair in real time.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
