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AUD/USD Forecast 17 June 2016

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AUD/USD Forecast 17 June 2016
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Yesterday the pair AUD/USD almost repeated the dynamics of the pair GBP/USD.

The Aussie, as well as the Cable, fell against the dollar. But after rumors about a possible postponement of the referendum date the pair reversed. The only difference between AUD/USD and GBP/USD is the narrow range.

Yesterday's data showed the unemployment rate at 5.7%. The number of employees increased by 17.9K against the expectations 15K. However, the rate of working-age population either working or looking for work has not increased compared to the forecast (64.8% against 64.9%).

Today, the US is to publish data on building permits, which suggests the growth.It seems that the pair AUD/USD is also trading in its range 0.7360-0.7420.

How to trade

We would buy put options if the pair falls below 0.7360.

Asset: AUD/USD
Direction: PUT
Target price: 0.7360
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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