Market Analysis
AUDUSD midweek: Aussie reclaims 0.6987 after Monday dip, 2026-07-13
AUDUSD trades at 0.69875 midweek, up roughly 46 pips from Monday's open, with a thin back-half calendar and the daily PBOC fix in focus.
2 min readThe Dow closed Wednesday at 50,574, down 256 points from Monday's opening at 50,830. The index touched 51,125 early Monday before Tuesday's sharp reversal took it to a weekly low of 50,501.
Monday's initial push higher lost momentum as the index failed to hold above 51,000. Tuesday saw the heaviest volume of the week at 58,061 contracts as sellers pressed the index 418 points lower from Monday's high to Tuesday's 50,527 close.
With no high-impact events scheduled for Thursday or Friday, the index faces a technical battle at current levels. If buyers defend the 50,500 support tested Tuesday, the 51,000 resistance comes back into focus. A break below 50,500 puts the round 50,000 level in play.
As of Wednesday morning, 58.4% of positions are long versus 41.6% short. The bullish tilt persists despite Tuesday's selloff, suggesting traders view the dip as a buying opportunity rather than a trend change.
The 50,500 mark proved its importance Tuesday, holding as support after a 592-point drop from Monday's peak. If this level breaks on volume, the psychological 50,000 barrier becomes the next obvious test. If it holds through Friday, Monday's 51,125 high returns as resistance.
Byline: LHFX Research
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