A$US$ consolidates and targets a fresh break higher

July 10, 2018

Currency Brief 

 

Good morning all;

 

AUDUSD: Made a second attempt to reach 0.75c, but was unable to push above 0.7485 – the previous market high that we saw on Monday. Traditionally focus would be on Thursday nights US inflation data for the spark that forces a long term break of the 0.7450-75c range. However the way the market is moving at the moment, with concerns easing on recent negative news and US Fed rate hikes priced in, I’ll continue to favour further upside.

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

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 


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