Long-term looking, at the moment it is best to stay on the sidelines, however selling is not an option, after this rebound. We would consider using pullbacks as buying opportunities.
AUD/USD Weekly Forecast – 29 May – 02 June
Aussie once again broke above 0.75 handle in the course of the last week, and once again found plenty of resistance above this level going back to 0.7450 level by the end of the week. However, as there were no major data releases it was an overall steadier week. We can expect more volatility with next week's Australian Retail Sales and US NFP figures. Pair is likely to find support around 0.7380 and 0.7350 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7550 handle.
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