The Aussie continues to react to the situation in adjacent markets.
The US dollar has weakened due to rising oil prices helped the Australian dollar to strengthen.
The Iron ore added 0.23%, the copper has risen by 0.42%. The wheat adds 0.33%. The last two weeks in Australia, we are witnessing the intensification of mergers/acquisitions process, increasing the interest in the stock market and its national currency.
However, the think that at the meeting, which will be held on August 2 the RBA will lower rates, has a major pressure on the Aussie.
We consider the scenario of growth AUD/USD to the area of 0.7520 - 0.7550. After that, the pair may turn on the back of positive US data and approach of the RBA meeting.
In the US, Philadelphia Fed manufacturing index is expected to grow from 4.7 to 5.1 in June. The house price index could show growth by 0.4%. The existing home sales are expected to slightly lower, to 5.48 million against 5.53 million.
How to trade
We consider two scenarios. The first is that AUD/USD falls below 0.7470. In this case, we would buy Put options. The second scenario, the pair AUD/USD rises to the area of 0.7520 - 0.7550 and reverse. In this case, we would buy Put options after the reversal.
Expiry time: 20:00