Forex trading signals and analysis for AUDUSD – 02 Jul 2014

Forex trading signals and analysis for AUDUSD – 02 Jul 2014

Analysis:

Yesterday AUDUSD broken 0.9460 zone and rose to its highest level in 7 months after RBA left interest rate unchange.  Although the interest rate hold as expected but the RBA minutes did not reiterate the dovishness seen in last month minutes and we think this played the key role in the move of Aussie dollar.  However, the big move in the equities market also contributed to the gains in the commodities currencies.

AUDUSD closed the day at 0.95 zone and retraced below 0.9460 during Asian trading session after Australia Trade Balance data, when data missed expectation.

It is clearly that AUDUSD is in strong bullish momentum.

Screenshot 2014-07-02 11.54.31

Forex Trading Signal:

Our strategy today is to look for buy signals around 0.9400 – 0.94400.

Resistant zone:

-0.970 – 0.9750

-0.9580 – 0.9600

-0.9500 –  0.9540

Support zone:

-0.9440 – 0.94650

-0.9380 – 0.940

-0.9320

-0.9260

-0.92

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