AUD/USD Weekly Forecast – 16 October – 20 October

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Friday, Oct 13 2017

AUD/USD Weekly Forecast – 16 October – 20 October

Aussie broke higher in the course of the last week after it found support around 0.7750 handle going all the way to 0.79 area by the end of the week where it found some amount of resistance and then pulled back slightly but still finished the week around 0.7880 level. Next week focus will be on CPI figures. Pair is likely to find support around 0.7780 and 0.7750 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7950-0.80 handle.

Long-term looking, selling is not an option at the moment, after this rebound. However we would remain on the sidelines for now. Decisive break above 0.80 handle would be a strong buying signal.

More in this category: « EUR/USD Weekly Forecast – 02 October – 06 October GBP/USD Weekly Forecast – 16 October – 20 October »

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