AUD/USD Weekly Forecast – 22 May – 26 May

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Sunday, May 21 2017

AUD/USD Weekly Forecast – 22 May – 26 May

Aussie formed support around 0.7380 area in the course of the last week, and was then pushed higher but found area above 0.7470 level to be too resistive at the moment, however, pair finished the week near this area which is of course a positive sign for a potential uptrend in the upcoming week, where focus will be more on US data. Pair is likely to find support around 0.7380 and 0.7350 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7550 handle.

Long-term looking, at the moment it is best to stay on the sidelines, however selling is not an option, after this rebound. We would consider using pullbacks as buying opportunities.

More in this category: « EUR/USD Weekly Forecast – 15 May – 19 May GBP/USD Weekly Forecast – 22 May – 26 May »

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