China's CPI data. Weaker than expected figures would cause downtrend below 0.75 handle, with initial support around 0.74 handle, while better than forecasted data would bring rebound but with a resistance above 0.7640 level. On a long-term basis, we would definitely avoid buying the pair at the moment. Even i a case of rebound there so much resistive points all the way to 0.80 handle that we see no scenario in which we would be buyers for this pair. If we break below 0.75 handle we would be more than willing to start shorting the market.
Last modified on Friday, 03 July 2015AUD/USD Weekly Forecast – 06 July – 10 July
After it spent most of the week being traded in a tighter range within its consolidation range, Aussie was pushed sharply down on Friday all the way to 0.75 handle which is significant supportive area on a long-term charts. This kind of move on the markets that were overall steadier during the Friday's session suggests general bearishness in the pair. On a short-term basis, next week will be marked by Australian job figures and
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