Australian Dollar - US Dollar (AUD/USD)

 

Daily chart of AUD/USD:
AUD/USD Analysis and Outlook

 

 

Aussie-US Dollar (AUD/USD) Analysis

(Please refer daily currency charts and not short-term charts e.g. hourly charts. All technical indicators for the weekly AUD/USD forecast are based on the daily forex charts and in some cases 4-hourly charts. The trading strategies and forecast is based on the technical and fundamental outlook.)

 

AUD-US Dollar (AUD/USD) Forecast:

 

Previous Outlook of AUD/USD:

" 2 Weeks Back: On the downside we expect supports first near 1.0440 and then near the recent 1.0393, which is just below the 55-day EMA support now. "

AUD/USD Outlook For This Week:

Please check the relative strengths of recent economic releases and technical indications at following links as the base of this week's AUD/USD outlook. We recommend to check the economic strength meter on Fundamental Outlook page.
AUD/USD Fundamental OutlookAUD/USD Technical Outlook

 

Aussie-Dollar (AUD/USD) went as low as 1.0394 before closing for the week bearishly at 1.0402.

The break of the price action channel support and the Kijun line support of the daily Ichimoku cloud was then followed by the break of the support of 61.8% retracement of the upward move during November 16th to December 12th 2012. Please check this AUD/USD  chart alert of last week.

The overall price action and break of the above mentioned supports have made the near-term bearish outlook stronger but a better indication for further downward move will come with any break below 1.0393. This level had proved to be a strong support on December 2nd. Any decisive break below 1.0390 should bring some support near 1.0338/1.0340.

A break below this should target a retest of 1.0287. Our near-term neutral outlook will turn to bearish with any break below this level. In such a case we would expect a more towards a retest of 1.0149 and possibly more.

On the upside we expect resistance in the range of 1.0465/1.0475. Any decisive break over 1.0475 will start neutralizing the above mentioned outlook and any break over 1.0500 may bring further gains to test 1.0600.

 

Strategies for trading AUD/USD:

 

As mentioned that we expect further fall if the mentioned resistances hold and a break below 1.0393 takes place and hence primarily we will be on short-selling side with any upward correction. The stop-loss will not be much above the mentioned resistance zone.

 

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For short term Forex trades, please refer to daily technical analysis for Austrailan Dollar/US Dollar at AUD/USD Daily Analysis.
 
You may also share and check any real-time trading positions for AUD/USD in the forum and also the current AUD/USD market sentiments.
 

There can also be some news or some indications from technical indicators or chart patters which may suggest some major moves. Please check and share such observations about about AUD-USD and other currency pairs in the Forex Forum Alerts.

 

Important tags for outlook posted in the Forex blog: AUDUSD, AUD/USD Analysis, AUD/USD Outlook, AUD/USD Support and Resistance, AUD/USD Alert, AUD/USD forecast.

 
AUD/USD Interest Rate Comparison
(For Carry Trades)
Australian dollar interest rate
3.00%
USD interest rate
0.25%
AUD/USD interest rate comparision
2.75%

 

 

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