The AUDUSD bulls have continued to remain in control but we’re facing resistance at the 0.7346 level from where we can expect to see a reaction lower. Only a daily break and close above this resistance level can open the door for the rally to continue and possible to challenge the next key resistance level that stands at 0.7443. The stochastic indicator is showing an overbought reading, which means that we need to be patient and wait for a retest before the next leg up to be seen. On the downside, the first level of support comes at the intraday level 0.7260 followed by the key support level 0.7200.
Never miss out another good trading setup when you have this Powerful Price Action Scanner
We only have some minor risk events scheduled on the Australian economic calendar so we should expect a more technical driven market in the week ahead. On Tuesday, the RBA Meeting Minutes is scheduled to be released and then the RBA Governor Lowe is due to deliver a speech titled “Trust and Prosperity” at the Committee for Economic Development of Australia dinner, in Melbourne.
Previous AUDUSD Weekly Forex Forecast
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today