AUD/USD Weekly Forecast - 29 June - 03 July
Aussie remained within consolidation range during the last week, being traded in a tight range within 150 points with a support around 0.7650 area and resistance above 0.7750 level. There were no major data releases so pair was mostly influenced by commodity prices. Next week we would be focused on Australian Trade balance and Retail Sales figures as well as US NFP report. On a short-term basis, any type of resistive candles
above 0.7750 level would offer nice short-term selling opportunity, though we believe that 0.77 handle should be quite resistive itself. On the other hand, supportive candles at 0.76 handle, initially, and 0.7550 area in extension would be short-term buying signal. Long-term looking, we have no interest into getting involved into this market. 0.75 handle should offer plenty of support, so any downtrend should end around this area, which is psychologically important level being round number, while 0.80 handle remains top for this market, though we expect resistance as soon as 0.78 handle.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419