AUD / USD
Yesterday, the Australian dollar showed the best correction which was already expected, even though the AUD failed to achieve the target goal of 0.7610 / 20, due to lack of support from other currencies,the growth was 70 points. Oil rose to 1.2%, but iron ore (-0.32%), non-ferrous metals (copper-0.35%, aluminum -1.0%) also kept the growth of the "Australian". In fact, the market was confused because of the decision of the US and China to abandon the tariff war.
According to Australia, important economic data will not be available until the end of the week. If the expected strengthening of the dollar continues, the main scenario is the return of AUD / USD to 0.7440.
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company - www.instaforex.com