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AUD/USD Weekly Forecast - 05 February - 09 February

Saturday, Feb 03 2018
AUD/USD Weekly Forecast - 05 February - 09 February

Aussie spent last week in a decline, finding area above 0.81 handle to be too resistive, and after some mixed Australian figures pair pulled back going all the way to 0.7920 are by the end of the week, which is a clear sign of a bearish momentum. As for next week we would pay attention to Australian Retail Sales and Trade Balance 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 0.8050-0.81 handle.

Long-term looking, selling is not an option at the moment, despite this decline. However we expect plenty of resistance on a way towards 0.85 area.

More in this category: « EUR/USD Weekly Forecast – 29 January – 02 February GBP/USD Weekly Forecast - 05 February - 09 February »

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