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AUD/USD Forecast 29 Sep 14

Good day forex traders and readers.

Welcome to the AUD/USD forecast. It has been sometime since we last took a look and I hope you have made money trading the currency pair.

In the previous AUD/USD forecast we noted that the currency pair was facing the 0.94 region resistance. It was likely to be a critical region.


Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair did hit resistance at the 0.94 region. Our analysis was right on point and the currency pair had since then dipped significantly.

The AUD/USD is likely to be heading towards the support region of 0.865. The currency pair last visited this region early in the year. A strong bullish trend sprang from here and it is likely a critical region too.

Fundamental Analysis

The U.S. economy is delivering stronger than expected results and this probably swayed investors’ interest for the U.S. Dollar. There are sentiments in the market believing that the US Federal Reserve is likely to be among the first of the developed countries to be raising interest rates and hence many investors want to be in early for the ride.

The upcoming week brings us important economic releases. With the likes of the Australian retail sales and US Non-Farm Payroll, do be mindful and have proper money management.

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