AUDUSD Weekly Forex Forecast – 14th to 18th May 2018
The Aussie managed to post again a weekly close above the big psychological number 0.7500 but we can’t rule out the possibility of another retest of the 0.7470 support level before the bulls show up again. Last week high 0.7567 remains intraday resistance level and only a daily close above it can open the door for a retest of the 0.7645 level. The stochastic indicator is in overbought territory and it suggests that we should correct some of the previous week’s rally. More or less we should expect some ranging activity in the coming week.
The Australian economic calendar will is full of risk events that can disrupt the volatility. The Monetary Policy Meeting Minutes is released on Tuesday. The RBA Assist Gov Debelle Speaks is due to deliver a speech titled “Interest Rate Benchmark Reform” at the International Swaps and Derivatives Association Forum in Hong Kong. The Unemployment rate released on Thursday is the main risk events for the Aussie.
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AUDUSD Weekly Forex Forecast – 14th to 18th May 2018
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