.st0{fill:#FFFFFF;}

AUDUSD Weekly Forex Forecast – 3rd to 7th Oct 2016 

 October 1, 2016

By  Advanced Strategies

AUDUSD Weekly Forex Forecast - 3rd to 7th Oct 2016
AUDUSD Weekly Forex Forecast – 3rd to 7th Oct 2016

The 200-day EMA and 0.7600 support level have limited the downside on AUD/USD however, we can spot a major divergence between the current price and the stochastic indicator which is indicating a reversal is about to happen. Since the Stochastic indicator is currently resetting we can expect another retest of the highs before another attempt to break below 0.7600 and eventually retest the big round number 0.7500.

The Australian economic calendar looks quite heavy and Tuesday, traders need to keep an eye on the RBA interest rate decision. The new RBA Governor Lowe has warned that due to the Australia’s housing crisis the RBA may cut rates again. Even though the general consensus is for the interest rates to be kept unchanged the risk remains to the downside and a surprise rate cut should do the most damage to AUD/USD exchange rate. Even a no rate cut can be bearish for Aussie if RBA reiterates its strong stance in regard to the course of the interest rates. The NFP figures can also weigh negatively on AUD/USD if we have a strong job report which makes the bearish case even more compelling.

AUDUSD Weekly Forex Forecast – 3rd to 7th Oct 2016 – BULLISH

 


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!

Broker #1

Broker #2

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

Advanced Strategies


Your Signature

related posts:


GBP/USD Daily Price Forecast – 28th March 2024


GBP/NZD Daily Price Forecast – 27th March 2024


USD/JPY Daily Price Forecast – 26th March 2024

Leave a Reply:

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

Advanced Forex Strategies