Note: The AUD/USD forecast is updated during every weekend by taking into account the various factors which are expected to affect the relative price action of the Australian dollar and the U.S. dollar.
AUD/USD Weekly Outlook And Predictions
"2 weeks back: 0.9420 to 0.9427 resistance zone is critical as it brings in various resistive forces as follows:
1) The psychological resistance of approaching 0.9500 should start near 0.9420.
2) The current 55-day EMA is at 0.9423. The 22-day EMA is at 0.9422.
3) The 38.2% retracement of the upward move from 0.8892 to 0.9758 is at 0.9424 and this level may now prove to be a resistance.
Considering the above we will be cautious for any long-positions. The strong resistance faced above the 50% retracement for the downward move from 1.0582 to 0.8848 and the subsequent fall below the 38.2% level of that move indicate that we will cannot ignore the possibilities of some extended bearish trading. While saying this we do believe that a mid-turn bottoming was already over at 0.8848."
The Week Ahead
Resistance near 50% retracement - longer time-frame
AUD/USD - A view on shorter-time frame
More Resources For Trading AUD/USD
- Daily Analysis: AUD/USD daily analysis
- Daily resistance and support levels: AUD/USD pivot points.
- Share your trades: Real-time trading positions for AUD/USD in the forum
- Current sentiments: AUD/USD market sentiments.
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Important pages about AUDUSD (Aussie / US dollar) in the Forex blog
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- Any other update for AUD/USD apart from the regular update time.
- Post about the outlook and forecast for AUD/USD posted in the blogs.
- Posts about AUD/USD Support and Resistance for expected support and resistance levels.
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(For Carry Trades)
Convert Australian Dollar to U.S. Dollar.
This update on AUD/JPY outlook is written by the analysts of ForexAbode.com. Do contact us for any questions, suggestions or feedback.