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AUD/USD Forecast 14 Apr 2016

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AUD/USD Forecast 14 Apr 2016
5/5 of 4 ratings

AUD/USD will try to rise to the 0.79 area during two weeks

This week the pair AUD/USD got the favorable conditions. First, Australia has published strong economic data. Second, positive Chinese data, the growth of the gold, and the weakness of the US dollar helped the pair AUD/USD to become stronger.

Now the pair AUD/USD is trading near the high of June 2015 and has all the prerequisites for further growth.

NAB business sentiment index showed an increase to the level of 12 - a record for the last 8 years. This confirms that even decline in the mining sector could not stop the sharp rise in the service sector, industry and construction.

Soon the Reserve Bank of Australia (RBA) may intervene in the situation as the current activity in domestic consumption began after the sharp devaluation of the national currency. We think that the Reserve Bank of Australia will make the changes at the next meeting on May 3. After the meeting, the pair AUD/USD may stop growing.

We assume that the pair AUD/USD will try to rise to the 0.79 area during two weeks. But after reaching this mark, the pair will demonstrate a significant correction.

Today Australia has presented positive data on unemployment, 5.7 vs. 5.9. The employment rate showed 2,61K vs. 20K.

How to trade

We would buy CALL options if the pair AUD/USD rises above 0.7670.

Asset: AUD/USD
Direction: CALL
Target price: 0.7670
Close price: 0.7692
Expiry time: 20:00 GMT

Comments

Euroman's picture

Great analyses Zoran.

I use your forecast everyday and my binary trades are 85 ITM.

Best regards

Euroman
Toni H.'s picture

Thank you for your feedback, we appreciate it!

Toni H.

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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