AUD/USD Weekly Forecast – 21 September – 25 September
Aussie managed to rebound in the course of the last week, breaking above 0.72 handle, as pair was supported mostly by incline in commodity prices as well as dovish Fed statement concerning interest rates. However, this pair could be only temporarily as there is plenty of resistance all the way to and above 0.73 handle. With no major data releases next week, we believe that any type of resistive candles around 0.73 handle
would offer short-term selling opportunity, while supportive candles around 0.71 handle should be short-term buying signal. On a long-term basis, despite this rebound we are still not interested in buying this pair. If we see break above 0.73 handle we would reevaluate situation and consider buying. At the moment we believe that selling rallies should be way to go in this market and that it will go back to 0.70 handle eventually and then perhaps even lower.
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gdp95
industrial production106
inflation73
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trade balance108
uk188
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