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On March 8th, four sources familiar with the matter told Reuters that Saudi Arabia has informed Iran that while it supports a diplomatic solution to the conflict between Iran and the United States, it may take appropriate measures in response if Iran continues to attack Saudi Arabia and its energy sector. The sources revealed that two days prior, the Saudi Foreign Minister met with the Iranian Foreign Minister and clearly articulated Riyadhs position. The sources indicated that Saudi Arabia is willing to accept any mediation approach aimed at de-escalating the situation and reaching a solution through negotiations. They also emphasized that Riyadh and other Gulf states have never allowed the United States to use their airspace or territory to launch airstrikes against Iran.On March 8th, local time, on the evening of the 7th, Iranian Islamic Revolutionary Guard Corps spokesman Naini stated that in the first week after the outbreak of the conflict, the Iranian armed forces implemented a multi-layered offensive strategy. Statistics show that Iran conducted 600 missile strikes, using various types of solid and liquid-fueled ballistic missiles and cruise missiles. In addition, Iran conducted 2,600 drone operations. During these operations, more than 200 sensitive targets located at US military bases and key Israeli facilities were precisely targeted and destroyed. Naini emphasized that the scale of Iranian firepower projection in the first three days of the conflict was equivalent to the total firepower deployed during the entire "12-Day War." Naini also stated that 17 ships belonging to the United States, Israel, and their allies have been attacked.Local news agencies, citing sources from Irans oil ministry, reported that fuel depots in three regions, including Karaj, west of the capital Tehran, were attacked.Irans Supreme National Security Council Secretary Larijani: The United States is already mired in its own miscalculation.Irans Supreme National Security Council Secretary Larijani: Regional countries have realized that the United States can no longer guarantee their security.

AUD/USD RBA Continuation of the upswing is predicated upon breaching the 0.7045-50 resistance area

Daniel Rogers

Aug 02, 2022 15:08

 截屏2022-08-02 上午9.52.31.png

 

The MACD and RSI indicators favor purchasers, but the RBA controls the market. AUD/USD trades between 0.7025 and 0.7030 during the midday Asian session on Tuesday. Traders anticipate the Reserve Bank of Australia's (RBA) Interest Rate Decision as the Aussie pair flirts with a significant northward resistance level.

 

In addition to the confluence of the 100-day exponential moving average (EMA) and the downward sloping trend line from April 20, AUD/USD bulls face the risk that the RBA may refrain from making too aggressive statements due to widespread recession concerns.

 

Notably, the early MACD signals and the RSI (14), which are not overbought, encourage AUD/USD buyers. Continuous trading above April's downward-sloping resistance line, which is currently 0.6910 support, is on the same line.

 

Should the downward swings push the quote below 0.6910, the mid-June and May lows of 0.6850 and 0.6830, respectively, will test the pair's further slide before reversing to the yearly low of 0.6680.

 

In contrast, a successful break over the 0.7050 resistance level requires confirmation from the June 16 swing high around 0.7070 prior to driving AUD/USD prices towards the 50 percent and 61.8 percent Fibonacci retracement levels of the April-July drop, near 0.7175 and 0.7300, respectively.


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