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14 June 2017

AUD/USD: general review

By Kristina Leonova: Chief Analyst in the Investment Research Department

AUD/USD: general review
US dollar strengthened yesterday against the Autralian currency in view of release of data on the changes of manufacturers price index in the USA. The release was better than expected: manufacturers price index in May grew by 2.4% YoY against the forecast of 2.3%; and manufacturers price index without food and energy increased by 2.1% YoY against the forecast of 2.0%. During the trading the price reached the level of 0.7528 after which correction started, and currently the pair is trading around the level of 0.7540.
Today, traders are waiting for FOMC's decision on interest rate. The level of the interest rate is expected to be increased by 25 basic points which may have a positive impact on USD rate. The comments of the regulator on the monetary policy will be of great importance for the formation of the market. FOMC will suggest its own assessment of the economy, in particular an inflation forecast and the terms of future interest rate increases. The data on retail sales and changes in consumer price index from the USA will be released today before the announcement of FOMC decision.
"Hawkish" tendencies of FOMC regarding the assessment of the economy and a forecast that provides for two more increases of the interest rate this year must have a positive impact on the rate of USD. "Dovish" comments of the regulator may support the pair AUD/USD.
Support levels: 0.7500, 0.7450, 0.7385, 0.7350, 0.7275.
Resistance levels: 0.7570, 0.7630, 0.7690, 0.7730.

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Liteforex (Europe) Ltd (ex. Mayzus Investment Company Ltd) without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market. 
About the author
Kristina Leonova
Kristina Leonova
Chief Analyst in the Investment Research Department

Kristina Leonova is an up and coming market specialist - currently in the process of obtaining The Chartered Financial Analyst Degree in CFA Institute.

She began her career at Liteforex (ex. Mayzus) at only 20 years old, holding the position of the Assistant of the Chief Financial Officer.

She has since become invaluable to the Company, holding the position of Chief Analyst in the Investment Research Department, and now is also responsible for our world renowned market reviews.

She has a keen eye and a good gut instinct when it comes to analyzing the markets, always staying at the top of her game, with her work often being published on other websites and news vendors.

Mayzus is excited to welcome her as our new, top financial analyst.

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