AUD/USD Weekly Forecast - 15 June - 19 June
Aussie was traded between 0.76 handle and 0.78 area as tops and bottoms during the last week, on one hand supported by better than forecasted Australian job figures, but on the other hand offset by possibility of further RBA rate cut. In the end pair managed to hold above 0.77 handle. Next week will be marked by US data. Any type of supportive candles around 0.7650 area and 0.76 handle in extension should offer short-term buying
opportunity, since this area has been supportive for long time now, while resistive candle around 0.78 handle, initially in the week, and 0.7850 area in a case of a larger rebound should be short-term buying signal. Long-term looking, we would remain on the sidelines for this pair, as it is quite tight at the moment, but we believe that any rallies should offer just another selling opportunity with plenty of resistance all the way to 0.80 handle.
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