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AUD/USD Forecast 18 Apr 2016

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AUD/USD Forecast 18 Apr 2016
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Aussie awaits the publication of the RBA meeting minutes

Yesterday any agreements weren’t reached at a meeting in Doha. As a result, the Australian dollar opened the trading week with a gap, 70 points below the close price.

Tomorrow the RBA minutes will be published. They’ll show if the Aussie will be able to recover. Protocols may be positive due to the strong data on construction, manufacturing activity and reducing unemployment.

Before the meeting of the Central Bank, we could see the deterioration in the trade balance of Australia and lack of growth in retail sales, but the attention of monetary policymakers has been concentrated on the oil market, which was rapidly growing in mid-February. He pulled up the iron ore, the price increased by 25% in mid-February.

Today, in Australia the sales of new cars have shown an increase by 2.2% in March.

How to trade

On the hourly chart, the pair AUD/USD has the key levels: 0.7736, 0.7716, 0.7626 and 0.7579. If the pair falls below 0.7626, we should buy put binary options.

Asset: AUD/USD
Direction: PUT
Target price: 0.7626
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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