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AUD/USD Forecast 23 June 2016

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AUD/USD Forecast 23 June 2016
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The Aussie is traded near 0.75.

In general, the level of 0.7500 is held from March of this year as the strong support of the spring months.

By analogy with the European currencies, we can assume that the growth of the "Aussie" is committed to the range 0.7640/90 - at these levels, the RBA lowered the rate.

The representatives of the RBA like to use verbal intervention, and we are pretty sure that this time, they will do the same, to curb the rise of the national currency.
The pair AUD/USD will also get the support in case of the positive result on the Brexit referendum.

How to trade

The continuation of upward movement id the pair AUD/USD overcomes the noise range of 0.7526 - 0.7550, in this case, the target - 0.7633. The short-term downward movement is possible in the range of 0.7478 - 0.7449, the breakout of the low limit will lead to a deep correction. We would buy put options if the pair falls below 0.7500. We would buy call options if the pair rises above 0.7550.

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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