AUD/USD Weekly Forecast – 11 January – 15 January
Aussie was pushed lower in the of the last week, breaking below 0.70 handle. There were no major data releases from Australia, however, concerns surrounding crash of Asian markets as well as slower China's economic growth, have put bearish pressure on the pair. Next week main market mover will be Australian job data.
Weaker than expected figures would cause further decline, perhaps even below 0.69 handle, which should offer some amount of support at the moment. On the other hand, better than forecasted figures would cause rebound, with resistance above 0.7080 area, which was previously resistive. In long-term trends, we would be sellers for this pair. 0.69 handle is major support level on a long-term charts so we expect some bounce out from this area, but if we see break below this handle, pair could go as low as 0.67 handle. Buying is not an option at the moment.
- 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