AUD/USD Weekly Forecast – 12 October – 16 October
Aussie manage to break higher in the course of the last week. Supportive for the pair were more hawkish RBA Meeting Minutes, but also dovish FOMC Meeting Minutes as well as weaker than expected US figures. Pair managed to break above 0.73 handle and finish the week above this area which is of course bullish sign. Next week we would pay attention to China's CPI figures and US
readings. We believe that any type of resistive candles around 0.7430 area would offer short-term selling opportunity, while supportive candles around 0.72 handle would be short-term buying signal. On a long-term basis, we are now bullish for the pair, but recognize that there is a significant amount of resistance all the way to 0.75 handle, so we have no interest in placing any larger bids until we see decisive break above this level. Selling is not an option until we see break below 0.71 and 0.70 handle in extension which does not seem likely in the next few session.
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aud/usd2605
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eur/usd1497
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gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
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trade balance108
uk188
unemployment claims160
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