AUD/USD - AUD/USD Weekly Outlook! - 06/30/2016 (GMT)

AUD/USD has reversed directions and posted slight gains the last two trading session, recovering half of the losses from Friday’s session, after the UK decided to leave the European Union. The pair finds support from the 200-SMA near 0.7300, a strong technical level, while the 100-SMA on the daily chart will be the first obstacle or the bulls near 0.7475. On the 4-hour chart, the price continues developing well above the 200-SMA, whilst the technical indicators hold within positive territory, although with no clear directional strength. A clear break above the mentioned 0.7475 level could see the pair advancing up to 0.7540, whilst beyond 0.7400, the rally can extend down to 0.7300. No clear direction on the weekly timeframe, so medium-term and long-term holders can enjoy their July holidays.