AUD/USD Weekly Forecast - 13 April - 17 April

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Friday, Apr 10 2015

After it was initially pushed lower, Aussie managed to rebound by the end of the week, testing 0.77 handle as a resistance but this area once again proved to be too resistive for this pair at the moment. Next week we would pay attention to China's GDP figures as well as Australian job data. Weaker than expected figures would once again push Aussie back to 0.76 handle and then event to 0.7550 area, where we would consider short-

term buying, while better than forecasted data would probably lead to a break above 0.77 handle but with a next resistance around 0.78 handle where we would place our short-term selling point. In long-term trends we have no interest in buying this pair as we believe that it should head towards 0.75 handle, given enough time. 0.80 handle seems like a ceiling for this pair at the moment. Also, RBA wishes on lower exchange rates as well as downtrend in China's economic growth should put extra pressure on the pair in the following months.

More in this category: « EUR/USD Weekly Forecast - 06 April - 10 April GBP/USD Weekly Forecast - 13 April - 17 April »

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