On a long-term basis, if we see decisive break above 0.76 handle we would be buyers for this pair with initial target set at 0.78 handle. Selling is not an option as long as we are above 0.72 handle. Despite stronger USD, Aussie is supported by rise in gold prices so this could be factor pushing Aussie higher.
AUD/USD Weekly Forecast – 11 July – 15 July
Aussie went back and forth in the course of the last week, with resistance above 0.75 handle, but managed to remained stable above 0.74 handle, which is of course a bullish sign, taking in consideration how markets are being volatile after Brexit referendum. Next week, we would pay attention to China's GDP and Industrial Production figures. Pair is likely to find support around 0.74 and 0.7350 handle in extension, while resistive candles above 0.7550 and 0.7630 handle would be short-term selling signal.
- 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