AUDUSD Weekly Forex Forecast – 2nd to 6th July 2018
The Aussie has only managed to make a new marginal low below 0.7346 and now we’re back inside the previous week trading range. There is a chance we will see another attempt to break higher which is expected to fail again. On the upside the first level of interest is the intraday resistance level 0.7445 followed by the key resistance level 0.7470 and big round number 0.7500.
The stochastic indicator has already reached overbought territory, which indicates that for the time being we’ll at least take a pause before the next burst in volatility to be seen. The Australian economic calendar will bring the RBA interest rate decision, but no changes in the interest rate policy are expected. The Trade Balance figures and the Retail Sales are the other risk events that have the potential to disrupt the market volatility.
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