AUDUSD Weekly Forex Forecast - 4th to 8th Dec 2017

AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

The Aussie couldn’t manage to post a weekly close above the resistance level 0.7625 but last Friday can have the potential to continue once we get a daily close above 0.7625. However, a break and a daily close below 0.7530, but more importantly below the big psychological number 0.7500 can rapidly change the picture into a bearish scenario. The stochastic indicator is not yet in overbought territory and if we manage to break above 0.7625 early in the week then there is a big probability that we can see the next resistance level 0.7730 hit by the end of the week.

The Australian economic calendar has scheduled some major risk events that can drive the AUD/USD volatility. On Tuesday, we have the RBA interest rate decision and while the consensus is for no change in the monetary policy the market driver stand in the RBA rhetoric. There are growing speculations that the RBA will start raising rates in the first half of 2018, in which case there is big potential of AUD/USD breaking higher.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

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
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments
Do NOT follow this link or you will be banned from the site!

The Powerful AllPips Trend Indicator | 100% Free Download