AUD/USD Weekly Forecast – 17 August – 21 August
Aussie was pushed sharply down initially last week, testing 0.72 handle as a support on the news on Chinese devaluation of yuan. However, by the end of the week with the rebound on gold and iron ore markets Aussie also managed to test 0.74 handle as a resistance. We expect plenty of volatility next week. Any type of resistive candles around 0.7450 level initially and 0.75 handle in extension would offer short-term selling
opportunity, while supportive candles around 0.73 handle and 0.7250 area would be short-term buying signal. On a long-term basis, we still se 0.75 handle as a top for this market and therefore we have no interest in buying it. We would sell the pair on break below 0.72 handle or on candles that show signs of resistance.
- 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