Sorry, you need to enable JavaScript to visit this website.

AUD/USD Forecast 22 Apr 2016

You are here

AUD/USD Forecast 22 Apr 2016
5/5 of 3 ratings

The Aussie has been locally overbought and eventually lost about 75 points in two days

Commodities showed a decline yesterday. Crude oil lost 1.04%, the wheat lost 1.31%. However, the iron ore and non-ferrous metals remain on the peak of the current month.

Investors have recorded growth in yields on Australian government bonds but this is due to a sharp jump in oil prices.

The correlation between the American and the Australian dollar increases.

How to trade

On the hourly chart, the pair AUD/USD has the key levels: 0.7852, 0.7791, 0.7735, 0.7713. If the pair overcomes the mark of 0.7791, it will continue to move to the area of 0.7852. The short-term bearish movement is expected in the range of 0.7736 - 0.7713. We should buy call options if the pair rises above 0.7791. We should buy put binary options if the pair falls below 0.7736.

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.

You may also read