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AUD/USD Forecast 30 May 2016

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AUD/USD Forecast 30 May 2016
5/5 of 3 ratings

Today's Australian data can have an impact on the Aussie.

The new home sales fell by 4.7% in April, the company's gross profit decreased by 4.7% in the 1st quarter.

Today, we do not expect the significant movements of the "Aussie" in connection with a non-working day in the United States and the United Kingdom. And after correction, we expect the movement in the range of 0.7070-0.7110.

This week attention is paid to the data on the GDP. It’s expected the decrease from 3.0% to 2.7%.

How to trade

We would buy put options if the pair falls below 0.7160.

Asset: AUD/USD
Direction: Put
Target price: 0.7160
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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