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AUD/USD Forecast 28 June 2016

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AUD/USD Forecast 28 June 2016
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The pair AUD/USD is trading within the range of 0.7325 - 0.75 after the Brexit.

Yesterday the Aussie repeated the dynamics of the pair GBP/USD and showed a decline. However, today during the Asian session, the Australian dollar is recovering.

The current situation in the UK can put pressure on the pound and the euro, but also the US dollar - the Fed is unlikely to raise rates in the current environment.

Now the probability of rate increase by Fed according to the futures is not expected to the end of 2017 – the probability of the increase in December 2017 is 43%.

And, then, investors will begin to look for profitable options, and the Australian dollar is a good variant. The pair AUD/USD has already made attempts to grow on Friday. And it can repeat by the end of the week.

Today, the US is to publish data on GDP for the 1st quarter - is expected 1.0% against 0.8% in the last assessment. The index of business activity in the manufacturing sector of Richmond is expected 2 in June vs. 1 in May. The consumer confidence from the Conference Board expects growth from 92.6 to 93.2.

How to trade

The downward movement is possible if the pair AUD/USD falls below 0.7330, in this case, the target - 0.7226. The upward movement is possible if the pair rises above 0.7445. We would buy call options if the pair rises above 0.7445. We would buy put options if the pair falls below 0.7330.

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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