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08.07.2014 07:28 AM
Weekly forecast of AUD/USD for July 08-11, 2014

AUD/USD

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The pair was rejected at 200-week Ema in October 2013 at 0.9757 levels. Last week, it was rejected again at 200-week Ema at 0.9504 levels. The medium-term trend will change if the pair manages to breach the resistance at 0.9545 levels on a closing basis. On the down side, it has support at 0.9320 and 0.9274 breaks below this, we can see another round of selling for 0.9188 levels.

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For the week July 08-11, the trading pattern is framed between 0.94-0.9320. If it breaches the upside, we can see some pull back up to 0.9443 and in the lower side, if it breaks the 0.9320 we can see 0.9290 and 0.9260 levels.

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