A$US$ supported by trendline support and we wait for major fundamentals

July 4, 2018

Currency Brief 

 

Good morning all;

 

AUDUSD: A$US$ has bounced from yearlong lows as the proposed US / Chinese trade war unravels from the brink, the Reserve Bank produce a not so bearish communique and as the trading / speculative market squares up ahead of today’s US Independence Day holiday.

Looking ahead the next 3 days could well spark our much needed break of the 0.7350-0.7450 range as we wait for Aussie data today, the US central bank meet on Friday morning, US unemployment data later that night and of course the proposed tariffs to hit or not.

My forecast remains for a recovery past 0.7450 towards 0.75c to 0.77c, being last months highs

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 


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