Forecasts
Forex Guides
Members

AUD/USD Weekly Forecast 13 April 15



Good day forex traders and readers.

It is the weekend and I hope everyone is having a good time. It had been a busy week for me and I am glad that I can catch up with some rest.

In the previous AUD/USD forecast we noted that the currency pair had been on a steady bearish down trend since September last year. The technical chart suggested a significant support at the region of 0.7620. Any bullish recovery might target 0.7780.
image


Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair was bullish for the week. It did test the 0.7620 region as expected.

It is interesting that the AUD/USD remains supported by 0.7620. We may be entering a consolidation period. Any bearish momentum will definitely need to overcome the support. Bullish target remains as 0.7780.

The bottom bollinger band is turning bullish and hence we need to monitor closely.



Fundamental Analysis

With regards to the recent Rsserve Bank of Australia announcement, a number of investors were worried about a rate cut. Therefore when rates were held steady, it was an unexpected scenario.

Having said so, the depressed commodities prices will likely continue acting like a weight.

Next week brings Australian employment information. As the job market is a crucial component of the economy, it may offer some insights. Do ensure proper money management.

Trade safely.

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • AUD/USD Weekly Forecast 13 April 15
  • eur usd weekly forecastAUD/USD Weekly Forecast 13 April 15
  • AUD/USD Weekly Forecast 13 April 15
  • AUD/USD Weekly Forecast 13 April 15
  • Retail forex traders open positionsAUD/USD Weekly Forecast 13 April 15
  • EURUSD Weekly ChartAUD/USD Weekly Forecast 13 April 15
TheGeekKnows