FX.co ★ Weekly forecast of AUD/USD for July 08-11, 2014

AUD/USD

The pair was rejected at 200-week Ema in October 2013 at 0.9757 levels. Last week, it was rejected again at 200-week Ema at 0.9504 levels. The medium-term trend will change if the pair manages to breach the resistance at 0.9545 levels on a closing basis. On the down side, it has support at 0.9320 and 0.9274 breaks below this, we can see another round of selling for 0.9188 levels.

For the week July 08-11, the trading pattern is framed between 0.94-0.9320. If it breaches the upside, we can see some pull back up to 0.9443 and in the lower side, if it breaks the 0.9320 we can see 0.9290 and 0.9260 levels.