AUD/USD Weekly Forecast – 24 July – 28 July

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Saturday, Jul 22 2017

AUD/USD Weekly Forecast – 24 July – 28 July

Aussie broke higher in the course of the last week going all the way to 0.7950 handle, mostly being supported by RBA Meeting Minutes as well as overall weakness in the US dollar. However, pair found some amount of resistance around 0.7950 area and then pulled back finishing the week around 0.79 handle. As for next week, focus would be on Australian CPI figures.. Pair is likely to find support around 0.7850 and 0.78 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.80-0.8030 handle.

Long-term looking, selling is not an option at the moment. We would consider using pullbacks as buying opportunities. Decisive break above 0.78 handle is a strong buying signal.

More in this category: « EUR/USD Weekly Forecast – 03 July – 07 July GBP/USD Weekly Forecast – 24 July – 28 July »

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