We believe that supportive candles around 0.8250 would make us consider buying the pair in short-term trends, though if we see much weaker than expected figures it is not unlikely for Aussie to go all the way to 0.82 handle. On the other hand, area above 0.84 handle should offer plenty of resistance at the moment so above 0.8430 is where we would sell the pair on a short-term basis. On a long-term basis we have no interest whatsoever in buying this pair, as it is almost certain that it will hit 0.80 handle given enough time.
AUD/USD Weekly Forecast - 08 December - 12 December
Aussie broke lower in the course of the week, after much weaker GDP figures and another sustained RBA statement, but also after better than forecasted US NFP data, which led to a weekly closing few points 0.8320 level. Next week should be also quite volatile with the focus on Australian job figures and Chinese CPI and Industrial Production data.
- 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