Australian Dollar Outlook Remains Bleak: AUD/USD, AUD/JPY, AUD/CAD, GBP/AUD 2021-07-18 05:00:00 Daniel Dubrovsky, Strategist Australian Dollar, AUD/USD, AUD/JPY, AUD/CAD, GBP/AUD – Weekly Technical Outlook Australian Dollar mostly weakened this past week, more to come? AUD/CAD eyeing potential bullish signal, GBP/AUD breakout eyed AUD/USD - Bearish The Australian Dollar extended losses this past week, with AUD/USD taking out the 0.7445 – 0.7479 support zone. This follows a series of bearish crossovers, including one between the 20-day and 50-day Simple Moving Averages (SMAs). Another one occurred between the 20-day and 200-day SMAs. These seem to be favoring a downside technical bias. Still, positive RSI divergence is persisting. This shows that downside momentum is fading, which can at times precede a turn higher.