AUD/USD Weekly Forecast - 12 February - 16 February

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Saturday, Feb 10 2018

AUD/USD Weekly Forecast - 12 February - 16 February

Aussie broke lower in the course of the last week, going all the way to 0.7750 handle, mostly due to mixed Australian figures and overall stregthening of the US dollar. However, pair managed to find some amount of support around 0.7750 area and rebounded by the end of the week to a closing above 0.78 handle. As for next week, we would be focused on Australian job figures as well as US CPI and Retail Sales data. Pair is likely to find support around 0.7750 and 0.77 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7850-0.7950 handle.

Long-term looking, buying is not an option at the moment, as it seems there is a lot of bearish momentum in the pair.

More in this category: « EUR/USD Weekly Forecast - 05 February - 09 February GBP/USD Weekly Forecast - 12 February - 16 February »

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