Long-term looking, after this pullback we believe it is best to stay on the sidelines, however selling is not an option at the moment, as long as we are above 0.74 area. We would even use pullbacks as buying opportunities as pair could try to test 0.78 handle in the near future.
AUD/USD Weekly Forecast – 27 March – 31 March
Aussie was initially pushed higher in the course of the last week, but found resistance above 0.7750 handle, and then pulled back gradually in the course of the rest week, going all the way to 0.76 handle, which offered some amount of support. Next week, with no major data releases from Australia we would pay attention to commodity prices. Pair is likely to find support around 0.75 and 0.7450 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7750 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