Yesterday, amid the positive US economic reports, the US dollar strengthened and then slowed down its growth against all other major currencies. Investors still keep an eye on the Greek issue.
In May US Personal Spending rate rose by 0.9%, exceeding the forecast of 0.7%. The previous figure was 0.1%. Total Personal Income increased by 0.5%, as it was predicted. Unemployment Claims grew from 268.000 to 271.000. It is 1.000 lower-than-predicted.
The Australian dollar is now close to the support level, and should bounce off it to the last Friday’s maximum of 0.7796.
The member of US FRS George gives his speech today, which may affect the US dollar.
Support and resistance
The nearest resistance level is the last Friday’s maximum of 0.77960. Support level is 0.7695.
Open long positions from 0.7717 with a stop loss at 0.7695 and target at 0.7796.Publication source