AUD/USD Weekly Forecast – 9 November – 13 November
After it was initially pushed higher in the course of the last week, Aussie find area around 0.72 handle to be too resistive at the moment, and after NFP data pair pulled back all the way to 0.70 handle, which is now next major supportive level. As for next week we would pay attention to China CPI figures and Australian job data.
Weaker than expected figures would push pair all the the way to 0.6950 area and 0.69 handle in extension, while better than forecasted data would bring rebound to the pair but with an initial resistance around 0.7120 level which was previously supportive. On a long-term basis, if we see break below 0.70 handle pair is more than likely to test support around 0.69 handle so we would be interested in selling the market. We have no interest in buying this pair as it proved to offer plenty of resistance on higher levels.
- 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