Trade call from Mitsubishi
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.