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AUD/USD Weekly Forecast – 26 June – 30 June

Saturday, Jun 24 2017
AUD/USD Weekly Forecast – 26 June – 30 June

Aussie spent most of the last week in a decline going all the way to 0.7530 area, but by the end of the week managed to slightly rebound. The whole weekly movement was within 100 points as there were no major data releases and with traders being more focused on commodity prices. We can expect similar trading next week with more focus on US figures. Pair is likely to find support around 0.75 and 0.7450 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7650 handle.

Long-term looking, at the moment it is best to stay on the sidelines, however selling is not an option. We would consider using pullbacks as buying opportunities. Decisive break above 0.76 handle would also be a buying signal.

More in this category: « EUR/USD Weekly Forecast – 05 June – 09 June GBP/USD Weekly Forecast – 26 June – 30 June »

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