Preferred direction: BUY Comment: We consider the Australian dollar in favor of a buyer within the medium term. It should be noted here that AUDUSD and NZDUSD will most likely update at least local minimums before growing. However, current prices are also great for "step by step" accumulating a buy-position. This trade is not designed for a big move higher, as the Pacific currencies do not look so positive in the longer term. Therefore, the target for a corrective upward movement is not considered above the level of 0.66000.
We have two scenarios for this medium-term long, where scenario №1 is more likely. As there is a medium-term deal, the two scenarios are considered in combination.
Additional comments on this trade will be provided as situation changes. Follow us!