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 dollar closed Wednesday at 16.3661 against the South African rand, up 0.1% from Monday's open at 16.3475. The pair touched 16.4128 during Tuesday's session before settling back, with Monday's low at 16.2597 marking the week's floor so far.
Tuesday saw the sharpest move when USDZAR spiked above 16.40 on volume nearly double Monday's 51,859 contracts. The PBOC's stronger-than-expected yuan fix early Wednesday reinforced dollar strength across emerging market pairs, keeping the rand under pressure.
Thursday and Friday bring no major scheduled releases for either currency. If the dollar maintains strength and 16.40 breaks decisively, the next resistance sits near Tuesday's 16.4128 high. A reversal below Wednesday's 16.3122 low would target Monday's 16.26 support.
Current positioning shows 58.3% of traders long the dollar against 41.7% short as of Wednesday morning. This modest long skew suggests the market sees further rand weakness possible but isn't aggressively positioned for a breakout yet.
The pair sits just below Tuesday's 16.4128 high, making this the immediate resistance to watch. Below, Monday's 16.2597 low remains the key support that would signal the week's upward drift has stalled. Watch how price reacts at these levels with LHFX.
Byline: LHFX Research
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