Current trend 

With the start of the trading week, the Australian dollar is slightly strengthening, at the moment the rate is 0.7606.

In general, the global trend remains descending and the key role is played by the low interest rate, which the Reserve Bank of Australia decided to leave unchanged at 1.5%. The country's unemployment rate rose to 5.6% and, according to analysts, the regulator is unlikely to tighten monetary policy until the indicator falls below 5%, and inflation reaches 2-3%. In addition, many entities are heavily indebted to Australian commercial banks and any rate increase could adversely affect economic growth and aggregate consumption. Generally, the regulator considers the economic situation in the country positive and plans that GDP will accelerate and may reach more than 3% for 2018.

This week, data on the unemployment rate for May will be published, a slight slowdown to 5.5% is expected.

Support and resistance

Stochastic is at 71 points and does not provide a signal for the opening of positions.

Resistance levels: 0.7629, 0.7680.

Support levels: 0.7580, 0.7550.

Trading tips

Short positions may be opened below the support level of 5/8 or 0.7580 with take-profit at 0.7550 and stop-loss at 0.7629.

Australian vs US Dollar

BuySellSpread
0.722210.7219625

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point0.7575
Take Profit0.7550
Stop Loss0.7629
Support levels0.7550, 0.7580, 0.7629, 0.7680
AUD/USD: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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