AUDUSD Weekly Forex Forecast – 9th to 13th Oct 2017
The AUDUSD broke to new lows but it has found support at 0.7730. Now, as long as we trade above last week low on a daily closing basis, we should expect to fill in last week’s price range. However, a break below 0.7730 can open the door for a retest of daily support level 0.7640. The stochastic indicator is in oversold territory, so a bounce can happen early in the week. On the upside the first level of interest is at 0.7800 resistance level. A break and a daily close above 0.7800 can open the door for a retest of 0.7875 resistance level.
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The Australian economic calendar doesn’t have major risk events scheduled. The only notable risk event is the RBA Assistant Governor Debelle speech scheduled on Tuesday. The other major risk event is the IMF meeting that will gather together central banks governors and Finance ministers.
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