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AUD/USD Forecast 9 June 2016

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AUD/USD Forecast 9 June 2016
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The Aussie continues to strengthen due to the general weakening of the US dollar.

The Australian dollar could benefit from the positive Chinese data. In China, consumer price index fell from 2.3% to 2.05% in May, but producer price index improved from -3.4% to -2.8%.

The Aussie added around 100 points after the central bank decision to keep the rate unchanged at 2.25%. After yesterday's losses, the price of iron ore recovering thanks to the Chinese data on inflation today.

In the current situation, the Australian dollar still remains the potential for growth to 0.7565.

How to trade

We expect the continuation of upward movement after the breakdown of 0.7480, in this case, the target - 0.7512. We would buy call options if the pair rises above 0.7480.

Asset: AUD/USD
Direction: Call
Target price: 0.7480
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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