• Australia Trade Surplus Widens 2,646% MoM In May 2017.
  • Australia's trade surplus widened 2646 percent to AUD 2471 billion in May of 2017 from a downwardly revised AUD 0.09 billion in April.
  • Australia Holds Cash Rate Steady At 1.5% In July
  • The Reserve Bank of Australia left the cash rate unchanged at a record low of 1.5 percent during the meeting held on July 4th 2017.
  • Australia Jobless Rate Down To 51-Month Low Of 5.5%
  • Australia's seasonally adjusted unemployment rate unexpectedly fell to 5.5 percent in May of 2017 from 5.7 percent in April 2017.

  • US Manufacturing Growth Slows To 9-Month Low: Markit
  • The seasonally adjusted IHS Markit final US Manufacturing PMI came in at 52 in June 2017.
  • US Factory Activity Growth At Near 3-Year High: ISM
  • The Institute for Supply Management’s Manufacturing PMI in the US rose to 57.8 in June 2017 from 54.9 in May 2017.
  • Fed Ready To Reduce Its Balance Sheet Soon
  • The Federal Reserve is ready to start reducing its USD 4.5 trillion asset portfolio within a couple of months
  • and the effect of such normalization on financial markets is expected to be limited, minutes from last FOMC meeting showed.
TECHNICAL ANALYSIS: AUD/USD is in uptrend on weekly chart and on monthly chart its next resistance stands at 0.81523..
WEEKLY CHART: AUD/USD is in uptrend on weekly chart.
  • ALLIGATOR is awakening.
  • ADX rising.
  • DMI+ and DMI- are in buy trend.
  • AC is in negative zone, columns are red.

MONTHLY CHART: It is in uptrend.
  • ALLIGATOR is sleeping.
  • ADX is falling.
  • DMI+ and DMI- are sell trend moving towards each other and may cross in buy mode.
  • AC is in positive zone columns are red.

Price action suggests more growth in AUD/USD and also it is supported by fundamental factors. Technical indicators suggests some correction and after it will reach its resistance so my target is at 0.79526.
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