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AUD/USD Weekly Forecast – 02 January – 06 Janaury

Sunday, Jan 01 2017
AUD/USD Weekly Forecast – 02 January – 06 Janaury

Aussie was traded in a tighter range in the course of the last week, with support around 0.7150 handle, from pair bounce out and went all the way to 0.7250 area where pair found some amount of resistance and pulled back to weekly closing around 0.72 handle. Next week, with no major data releases from Australia, we would be more focused on US NFP figures. We can expect some amount of support around 0.7150 and 0.71 handle and resistance above 0.7250 and 0.73 handle.

On a long-term basis we have no interest in buying this pair, despite this rebound, as we believe that pair could now go all the way to 0.71 handle or even below it. We would now be sellers, and use any rallies as a selling opportunities. 

Last modified on Sunday, 01 January 2017
More in this category: « EUR/USD Weekly Forecast – 19 December – 23 December GBP/USD Weekly Forecast – 02 January – 06 Janaury »

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