AUD/USD Weekly Forecast – 13 March – 17 March

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Friday, Mar 10 2017

AUD/USD Weekly Forecast – 13 March – 17 March

Aussie pulled back in the course of the last week, going even below 0.75 handle in one moment, but found support around 0.7480 level and managed to rebound slightly in order to finish the week above 0.75 area, however momentum seems to be bearish at the moment. Next week we would more be focused on FOMC and US figures. Pair is likely to find support around 0.7450 and 0.74 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7630 handle.

Long-term looking, after this pullback we believe it is best to stay on the sidelines, as there is some negative trend in the pair, however selling is not an option at the moment, as long as we are above 0.74 area.

More in this category: « EUR/USD Weekly Forecast – 06 February – 10 February GBP/USD Weekly Forecast – 13 March – 17 March »

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