Good day forex traders and koalas.
I hope you mates are doing well. The AUD/USD remains one of my diversification choice and I am loving it!
In the previous AUD/USD forecasts we note of the budget disappointment. The Aussie dollar took a hit.
Looking at the AUD/USD hourly chart above I want to warn you dear readers of the ranging pattern above. As you can see the currency pair is bouncing somewhat between 1.0477 to 1.0510 with occasional excursions further. While the Aussie dollar finds it’s bearing, do not attempt to over extend your profits to only find the AUD/USD turning back on you!
A point to know is that the markets definitely see the resilience of the Australian economy. There is little signs of any bearish breakdown due to the budget disappointment anymore.