On a long-term basis, if we again see decisive break below 0.74 handle we would be buyers for this pair with initial target set at 0.76 handle. Selling is not an option as long as we are above 0.72 handle.
AUD/USD Weekly Forecast – 13 June – 17 June
Aussie formed a support around 0.73 handle in the course of the last week and from there was pushed higher after more hawkish RBA stanzas. Pair tested 0.75 handle as a resistance, however, by the end of the week it pulled back, to 0.7360 area, offset by commodities prices. Next week focus will be on Fed's interest rate decision. Pair is likely to find support around 0.73 and 0.7250 handle in extension, while resistive candles above 0.7450 and 0.75 handle would be short-term selling signal.
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