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 – 05 June – 09 June
Aussie pulled back in the course of the last week going all the way to 0.7380 area, where it found some amount of support and managed to rebound on Friday, going to 0.7450 area again, after weaker than expected US NFP figures. We can expect plenty of volatility next week, with Australian GDP, Trade Balance figures as well as RBA interest rate decisions. 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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