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AUD/USD forecast for the week of July 3, 2017, Technical Analysis

By: 
Christopher Lewis
AUD/USD weekly chart, July 03, 2017

The Australian dollar broke higher during the week, clearing the top of the previous week candle. That being the case, looks as if we are trying to break

The Australian dollar broke higher during the week, clearing the top of the previous week candle. That being the case, looks as if we are trying to break towards the 0.7750 level above, and I think once we clear that area, the market will then go looking for the 0.80 level, which has been important on longer-term charts. I believe short-term pullbacks will continue to be buying opportunities and the 0.7550 level underneath will be supportive. I have no interest in selling the Aussie, it looks to healthy.

AUD/USD Video 03.7.17

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About the Author

Christopher LewisSenior Analyst

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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