On a long-term basis we have no interest in selling this pair, despite this pullback, as we believe that there is plenty of support for it all the way to 0.73 handle. However, buying is not an option until we see more decisive break above at least 0.75 handle. Until then we would remain on the sidelines.
AUD/USD Weekly Forecast – 05 December – 09 December
Aussie pulled back in the course of the last week going all the way to 0.7360 area where it found some amount of support and managed to rebound slightly with a weekly closing above 0.7450 area. Pair has plenty of support all the way to 0.73 handle. Next week focus will be on RBA interest rate decision and Australian GDP figures. We can expect some amount of support around 0.74 and 0.7360 handle and resistance above 0.75 and 0.7550 handle.
- 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