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.:: 18.05.2017

Forex forecast for 18 May 2017.


The Australian dollar has been growing for the seventh consecutive day. Today, the pair moved to the area of 0.7450 due to the employment report in Australia. The published data turned out better than expected. From a technical point of view the AUD/USD will face a local resistance of 0.7460-70, followed by an even more significant level of 0.7500, reinforced by an optional barrier.


The pound can not yet overcome the resistance level of 1.30. Over the past two weeks the pair have tried to get close to this resistance three times. From a technical point of view this shows that the currency is ready to consolidate. This week the UK published positive data on inflation and the labor market, however it was not enough to provide with an additional upward impulse to the pound.


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