AUDUSD Aussie Testing Key Resistance


 AUDUSD Weekly The Australian Dollar is expected to trade at 0.75 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.73 in 12 months time.

 AUDUSD Weekly

READ  USDJPY Forex Exchange Opened Lower Wednesday August 16
READ  USDCHF Midday Outlook Fell on Monday July 17
READ  GBPUSD has turned bullish this week

AUD/USD’s pull back from 0.8065 short term top extended lower last week. The pair lost some downside momentum after hitting 0.7838. With 0.7948 minor resistance intact, deeper decline could be seen. But we’d expect strong support from 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) to contain downside and bring rebound. On the upside, break of 0.7948 will argue that the pull back is completed. In such case, intraday bias will be turned back to the upside for retesting 0.8065.

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8100) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now expected.Like up on FACEBOOK

Hashing24 : Cloud Mining


major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)

Click here for reuse options!
Copyright 2017 Investors Buz


Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

Leave a Reply

Create Account

Log In Your Account