Forex forecast for 3 July 2017.
The pair tested the highs in the 1.1445 area on Thursday and today returned to the support of 1.1400 and it can continue correction to 1.1280 without affecting the newly acquired uptrend.
The Australian dollar didn’t stay long above the key resistance of 0.7700 and now it faces a bearish correction with the nearest target in the area of 0.7615/00. The American currency is recovering on the whole market, increasing pressure on the Aussie. Even the positive macro statistics did not help. The business activity in the country has grown and the labor market seems to be not bad at all.
The pair started the day in the area of 112.00 but later returned to the middle of the range 112.00-113.00 - to the closing levels on Friday. The index of business activity in the manufacturing sector as well as Tankan's business mood report came out better than expected.