Long-term looking, at the moment it is best to stay on the sidelines, however buying is not an option, as long as we are below 0.75 area. We would consider using rallies as selling opportunities.
Last modified on Friday, 12 May 2017AUD/USD Weekly Forecast – 15 May – 19 May
Aussie pulled back in the course of the last week going all the way to 0.7320 level where it found some amount of support, and managed to rebound by the end of the week finishing it near 0.74 area, but it seems that there is some negative momentum in the pair for now. As for next week we would pay attention to Australian job figures. Pair is likely to find support around 0.7330 and 0.73 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.75 handle.
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