Last week, we correctly forecasted the Australian Dollar to lose even more of its latest gains and reached our support target. In the coming days, we expect the pair to start recovering some of its losses and head towards the resistance level, as the support area seems strong enough to hold (for now). Thursday we will have some important news events that can impact the “Aussie” Dollar, as the Australian Bureau of Statistics will release the Retail Sales and Trade Balance data. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.