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AUD/USD Forecast 13 July 2016

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AUD/USD Forecast 13 July 2016
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The Australian dollar has changed the direction.

Yesterday, the Aussie repeated the dynamics of the Cable and was able to reach the mark of 0.7657. Today, however, it shows a sharp decline during the Asian session.

The pair got the pressure after the publication of data on the Westpac Index Sentiment, which decreased by 3% compared to the previous decline by 1%.

However, the Aussie continues to receive external support in the form of rising ore prices ($57), copper, silver. The WTI oil added 4.71% yesterday.

But today, all available support for the Australian currency may disappear after data on China's trade balance. The forecast is pessimistic: decline from 50.0 billion dollars to 46.0 billion dollars.

The Australian dollar is quite able to continue the growth to 0.7690, but if the Chinese Trade Balance is really weak, the "Aussie" may decline to 0.7500.

How to trade

We would buy call options if the pair rises above 0.7626. We would buy put options if the pair falls below 0.7565.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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