wrapper

AUD/USD Weekly Forecast – 21 December – 25 December

Friday, Dec 18 2015

Aussie broke further lower during the last week. Though there were no major data releases from Australia decline in iron ore prices and soft gold markets which fell mostly due to Fed's rate hike, pushed Aussie lower during the week all the way to 0.71 handle where pair found some amount of support and by the end of the week managed to reach 0.72 handle again. There will be no major data releases next week from Australia, due to holiday season, so we would be focused on US Durable Goods Orders data.

Weaker than expected figures would push pair a bit higher with a resistance around 0.7250 handle, while better than forecasted data would cause further downtrend to 0.71 area initially and then 0.7070 in extension, at which point we can expect some amount support. On a long-term basis we have no interest in buying this pair as we believe that it will continue its downtrend with a target set at 0.70 handle. Any rallies, should be seen as just another selling opportunity as Aussie has significant amount of resistance above 0.73 handle.

More in this category: « EUR/USD Weekly Forecast – 14 December – 18 December GBP/USD Weekly Forecast – 21 December – 25 December »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.