wrapper

AUD/USD Weekly Forecast - 01 June - 05 June

Saturday, May 30 2015

Aussie was pushed lower during the last week, breaking below 0.78 handle and going all the way to 0.76 handle where it found some amount of support at the moment. There were no major data releases both from Australia and USA, but there was bearish pressure building up in this pair from the moment we broke below 0.80 handle and this decline was just matter of time. We can expect quite volatile next week, especially its initial

part with the focus on RBA interest rate decision. In a case of a dovish RBA statement we can expect further downtrend with initially goal at 0.75 handle, where we expect some amount of support and would be buyers, short-term looking. On the other hand, hawkish statement would push Aussie higher, but we expect resistance as soon as 0.7750 or 0.78 area. On a long-term basis, we are now sitting at our long-term goal at 0.76 handle, but we believe that pair could go to 0.75 handle where we expect major support based on a long-term charts. We are far from any buying bids as there is significant amount of resistance between 0.78 and 0.80 handle from which pair can easily pullback.

More in this category: « EUR/USD Weekly Forecast - 25 May - 29 May GBP/USD Weekly Forecast - 01 June - 05 June »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.