AUD/USD Weekly Technical Analysis

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AUD/USD Weekly Outlook

AUD/USD's decline extended further last week as expected and reached as low as 0.9794 so far. Initial bias remains on the downside this week for 0.9663 support first, then 161.8% projection of 1.0852 to 1.0225 from 1.0473 at 0.9459. On the upside, above 0.9957 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited below 1.

May 19 | ActionForex

AUD/USD Weekly Outlook

AUD/USD dropped further to as low as 1.0017 last week and there is no sign of bottoming yet. Initial bias remains on the downside this week and current fall should target 100% projection of 1.0852 to 1.0225 from 1.0473 at 0.9846 next. On the upside, break of 1.0225 support turned resistance is needed to signal short term bottoming. Otherwise, outlook will remains bearish even in case of recovery.

May 13 | ActionForex

AUDUSD: Weakens, Set To Weaken Further.

With AUDUSD reversing its gains to close lower the past week, there is likelihood of continued weakness in the new week. In such a case, the 1.0224 level will be targeted with a clearance of here calling for a move lower towards the 1.0200 level. Its weekly RSI is bearish and pointing lower suggesting further declines.

By Mohammed Isah | May 06 | FX Tech Strategy

AUD/USD Weekly Outlook

AUD/USD's consolidation from 1.0225 completed with three waves to 1.0473 and last week's break of 1.0225 confirmed resumption of whole decline from 1.0852. Initial bias remains on the downside this week for 61.8% projection of 1.0852 to 1.0225 from 1.0473 at 1.0086 first and then 100% projection at 0.9846. On the upside, above 1.

May 05 | ActionForex

AUD/USD Weekly Outlook

AUD/USD's strong rebound and break of 1.0452 resistance last week suggests that fall from 1.0852 is already completed at 1.0225 already. Initial bias is on the upside this week for cluster level at 61.8% retracement of 1.0852 to 1.0225 at 1.0612, 161.8% projection of 1.0225 to 1.0425 from 1.0246 at 1.0613. Decisive break there will confirm this case and target 1.0852 and above.

Apr 28 | ActionForex

AUD/USD Weekly Outlook

AUD/USD stayed in tight range below 1.0452 last week and more sideway trading could be seen. However, note that firstly, choppy sideway trading from 1.0452 suggests that rebound from 1.0225 is not over. Secondly, with daily MACD staying above signal line, 1.0225 could be a short term bottom. Hence, stronger rise is anticipated this week and break of 1.0452 will target 61.8% retracement of 1.

Apr 21 | ActionForex

AUD/USD Weekly Outlook

AUD/USD's strong rebound last week suggests that a short term bottom is in place at 1.0225. As long as 1.0331 minor support holds, stronger rise is mildly in favor to 61.8% retracement of 1.0852 to 1.0225 at 1.0612. Break of 1.0636 will indicate that choppy rebound from 0.9387 is still in progress for another high above 1.0852 before completion. Meanwhile, failure below 1.

Apr 14 | ActionForex

AUD/USD Weekly Outlook

AUD/USD trended well inside the near term falling channel last week. Near term outlook remains bearish as long as 1.0557 resistance holds and current decline from 1.0852 should target 61.8% retracement of 0.9663 to 1.0852 at 1.0117 next. Fall from 1.0852 is viewed as another falling leg inside the consolidation pattern from 1.1079 has started at 1.0852 and should target 0.9663 support and below.

Mar 31 | ActionForex

AUD/USD Weekly Outlook

AUD/USD's fall from 1.0852 resumed last week and dived to as low as 1.0336 before forming a temporary bottom there and recovered. Initial bias remains neutral this week for some consolidations. But recovery is expected to be limited below 1.0636 resistance and bring fall resumption. Current development indicates that another falling leg inside the consolidation pattern from 1.

Mar 24 | ActionForex

AUD/USD Forecast for the Week of March 19, 2012, Technical Analysis

The AUD/USD pair fell during most of the week, but managed a bounce at the 38.2% Fibonacci retracement level of the latest up move. The resulting candle for the week is a massive hammer, and this signifies that a break higher is a strong buy signal. The fact that the 1.

Mar 18 | FXEmpire

AUD/USD Weekly Outlook

AUD/USD rebounded stronger after initial fall to 1.0422 last week. Considering bullish convergence condition in 4 hours MACD, a short term bottom is in place and initial bias is neutral this week. At this point, we'd still favor another fall as long as 1.0669 resistance holds. Below 1.0422 will further affirm the case that another falling leg inside the consolidation pattern from 1.

Mar 17 | ActionForex

AUD/USD Forecast for the Week of March 5, 2012, Technical Analysis

The AUD/USD pair rose slightly during the previous week, but lost a lot of the original gains to post a shooting star. The 1.08 level looks as if it is going to continue to put up a fight, and because of this, we think a pullback is coming. There is significant support at the 1.06 level, and as well at the 1.04 level. The 1.

Mar 04 | FXEmpire