The AUD/USD continued to grow, as we had expected. The trading range was 102 points. Low mark has gone down to a minimum - 0.9334, while the High level could be seen at the maximum - 0.9437.
The AUD/USD will continue its correction. The price is at levels Ichimoku cloud and moving average EMA (50 and 100), indicating a state correctional market. MACD medium, as well as pulses OsMA, lie at the zero level, indicating a weak activity on the market and its correction in general. Objectives: Correction.
Significant levels: Buy - 0.9266; 0.9307; Sell - 0.9226.
The AUD/USD was able to regain 0.9400 mark after Friday's correction of the 2-month highs. Aussie keeps fighting spirit, despite the cautious tone in the financial markets in light of the escalating conflict in Iraq. The AUD/USD reached a daily high of 0.9415, and then fell back slightly.
Schedule: hour timeframe.
Time horizon: in one day.
RSI: "bull" and calls for further growth.
Couple maintained upward trend line. Now, you have the following options for further development of the situation: the basic scenario: The AUD/USD flies above 0.937 and will open the way to new levels.
The second scenario: AUD/USD sell; The downside breakout of 0.937 will open the way to the next level.
Minimize the probability of failure of incentives for another $10 billion is insignificant. Statement - that's where the potential for impact on the dollar. Particularly, the acute situation will arise if the tone of statements or CB policy will be reflected weakness (data may be revised downward). Dollar has faced with obstacles to strengthen since the beginning of the month, the dollar index fell from 81 level in early June. This week is also the focus on the report of June`s meeting of the Monetary Policy Committee of the Bank of England; there is a chance to see at least one member of the Committee will vote for a rate hike, which would further support the pound at these elevated levels.
Now, cross quoting at 0.9405, a few pips above the opening level. RBA will publish tomorrow protocol of the recent meeting, but the markets do not expect any surprises from him. Technical levels on AUD/USD Resistance: 0.9426 (June 16 high), 0.9436 (June 11 high) and 0.9460 (April 10 high). Support: 0.9374 (low of June 13), 0.9350 (low of June 12) and 0.9318 (minimum 6 June). 