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

AUD/USD Forecast 28 July 2016

You are here

AUD/USD Forecast 28 July 2016
5/5 of 1 ratings

The Aussie showed considerable fluctuations yesterday.

The pair AUD/USD was able to reach a high of 0.7562 and low 0.7416 during yesterday's trading.

The pair actively reacted to data on consumer inflation and later on the Fed's decision not to rush with the rate increase, even in September.

The oil price drops five consecutive sessions, yesterday's decline was 1.66%, the iron ore suspended growth, the non-ferrous metals have stopped falling. The market feels increasing pressure on the alleged RBA rate cut next week.

Today, the export and import indices went worse than expected. The export index - 1.4% vs. the forecast of 2.9%. The import index - -1.0% vs. the forecast of 1.6%.

We consider that under the circumstances, the pair AUD/USD can’t go beyond the range of 0.7520 - 0.7550 and then reverse.

How to trade

We would buy put options if the pair falls below 0.7495.

Asset: AUD/USD
Direction: Put
Target price: 0.7495
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