MUFG trade of the week: Buy AUD/USD – ForexLive – ForexLive

Trade call from Mitsubishi

AUDUSD daily

MUFG highlights AUD/USD longs as their trade of the week. They suggest buying the Aussie with a target at 0.7895 (spot 0.7625) and a stop at 0.7460.

“Based on the view that a broader less US-centric optimism over the global recovery is emerging, we see better prospects ahead for the Australian dollar. The better vaccination outlook in Europe and positive growth prospects in China should allow for a slow grind higher for AUD/USD,” MUFG notes.

Invest in yourself. See our forex education hub.

Leave a Reply

Your email address will not be published. Required fields are marked *