Long-term looking, buying is not an option at the moment, especially after this pullback, but we expect some amount of support all the way to 0.75 handle.
AUD/USD Weekly Forecast - 5 March - 9 March
Aussie was pushed lower initially last week but found some amount of support around 0.77 handle and slightly rebounded but only to finish the week above 0.7760 level. This is just a sign that there is a lot of bearish momentum in the pair, with Aussie falling for a second consecutive week. Next week focus will be on Australian Retail Sales and Trade Balance figures as well as RBA interest rate decision. Pair is likely to find support around 0.77 and 0.7650 handle, so this would be our short-term buying points, while we can expect some amount of resistance near 0.7850-0.79 handle.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419