AUD/USD Forecast June 1-5

The AUD/USD reversed directions last week, losing some 230 points. AUD/USD closed the week at 0.7814. It’s a very busy week ahead, with 13 events on the calendar. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.

The dollar got a boost from strong core durables data out of the US and managed to weather weak GDP and employment numbers. In Australia, Private Capital Expenditure was unexpectedly weak, posting a sharp decline.

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