AUD to INR forecast July 2021

AUD to INR Forecast : Today, Next Week, Next Month, 2021

AUD to INR is an important currency pair for both traders and Indian immigrants living in Australia. So AUD to INR forecast is also important for you. It provides a trend analysis and let you make appropriate financial decisions.

Now, let’s analyze AUD to INR trends.

In this analysis, we will analyze trends for July month. We will also analyze short term trend for next few days and weeks. Below will be the structure for this post.

  • Table of Content
  • Price Action
    • AUD to INR Analysis – Weekly Chart
    • AUD to INR Analysis – Daily Chart
    • AUD to INR Analysis – 30 Minutes Chart
  • Indicator Based Analysis
    • AUD to INR Analysis – Weekly Chart
    • AUD to INR Analysis – Daily Chart
    • AUD to INR Analysis – 30 Minutes Chart

AUD to INR Forecast – Price Action – Weekly Chart

As of today, AUD against INR is priced at 55.4500 as per IDC chart. Now if we see below chart, current price is at crucial support.

AUD to INR forecast

If AUD breaks 55.0080 level against INR made in March this year, AUD vs INR can go down to 51.5613. Which is 3.4467 Indian rupee down from current level. Recently Australian govt came up with unemployment data and it was good against forecast.

If price hold current level indicated in above chart, it can take a bounce from here and July-2021 can see a short term uptrend. Now let’s see a slightly long term analysis.

If we check trends from last one year, price is in a channel. So if the channel is broken, it can lead to a downtrend for short to medium term. If the price stop at 51.5613 is broken it can lead to even bigger correction. Price can go to Jun-2020 level of 48.6570.

AUD vs INR Analysis – Daily Chart

If we convert the same chart from weekly to daily timeframe, we will see below chart.

AUD vs INR

On a daily chart of Australian dollar against Indian rupee, price has broken an important support level of 55.7200. Now the next support is at 55.0080. Which is also a weekly support as we have seen in above chart.

If the price bounces from there, it will also save weekly trend from breaking down. If the next support is broken, it can lead a daily trend to price going to 51.5613 which is also a weekly support. we can see that in below image.

Australian Dollar vs Indian Rupee Analysis – 30 Minutes Chart

Australian Dollar against Indian rupee

We will even zoom in the chart for next week trend.

Australian dollar vs Indian rupee forecast

So 30 minutes trend is also not showing any sign of recovery in coming days. it is constantly going down and broken immediate support level of 55.4550. now next support will be as per daily chart.

So our conclusion from the weekly, daily and 30 minutes price action chart of AUD vs INR is bearish for short term and at support for next month i.e. July-2021.

Now let’s see the trend with indicators.

AUD to INR Analysis – Indicator Based – Weekly Chart

As we have seen in price action analysis, Australian Dollar is in short term down trend against Indian rupee. Now let’s see the same with indicators. We will use simple indicator ‘Moving Average’. 21 days and 50 days moving averages are considered most important when it is considered for short and medium trend.

Australian dollar vs Indian rupee - Moving average trend

As we can see the above weekly chart with 21(Red) days and 50(Blue) days moving average. Price has broken 21 days moving average in last week at 56.2410 and now moving towards 50 days moving average marked at 54.8892.

If this is broken, we can see short term down trend and moving average convergence towards sustained down trend.

AUD vs INR Analysis – Indicator Based – Daily Chart

If we see daily chart of AUD to INR, price is moving below both 21 & 50 days moving averages. This is showing short term weakness in this pair.

AUD to INR forecast moving average

Now both the 21 days moving average has already crossed 50 days moving average. This is not a good sign for the pair.

Australian Dollar vs Indian Rupee Analysis – Indicator Based – 30 Minutes Chart

30 minutes chart of AUD vs INR is showing even more weakness then all the above charts together.

30 minutes chart of AUD to INR forecast

This chart is showing 21 days moving average is moving far from 50 days average. The other problem is price is also moving with the line. This means price has very little chances of a bounce as a mean reversal. For next couple of days there is a small chance where price can move for a mean reversal.

AUD against INR can bounce till 55.4500 for a mean reversal. so, If you have a long position, it is good to stay light or exit on bounce.

Our AUD to INR forecast for July-2021 ends here with a conclusion of weak trend of Australian Dollar against Indian rupee.

So stay light and can initiate a short position if levels mentioned in price action trends are broken.

Please share your queries and suggestions in comments.

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