AUD/USD Weekly Forecast – 23 January – 27 Janaury

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Saturday, Jan 21 2017

AUD/USD Weekly Forecast – 23 January – 27 Janaury

Aussie was pushed higher in the course of the last week after it initially formed support around 0.7450 area. However, pair was not able to break above 0.76 handle, which is next major resistive area. Pair was mostly supported by rather good Australian job figures but even more with overall weakening of the USD. As for next week we would pay attention to Australian CPI figures. We can expect some amount of support around 0.75 and 0.7450 handle and resistance above 0.7630 and 0.7680 handle.

On a long-term basis, after this rebound we are interested in buying the pair, especially if see break above 0.76 handle. Selling is not an option as long as we are above 0.74 area.

More in this category: « EUR/USD Weekly Forecast – 02 January – 06 Janaury GBP/USD Weekly Forecast – 23 January – 27 Janaury »

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