On the upside pair is likely to find resistance above 0.75 handle, while are around 0.73 and 0.7250 level in extension should offer some amount of support. In long-term trends, buying is not an option at the moment. If we see break below 0.72 handle, which is next major supportive point we would be sellers for this pair.
AUD/USD Weekly Forecast - 2 July - 6 July
- Friday, Jun 29 2018
Aussie spent last week in a decline going all the way to 0.7320 level, though there were no major data releases from Australia. However, pair managed to rebound on Friday and finish the week around 0.74 handle. As for next week, we would pay attention to Australian Retail Sales and Trade Balance figures as well as RBA interest rate decision.