AUDUSD – Weekly Forecast 30 Sept – 04 Oct 2013

The AUDUSD maintained some bearish momentum last week , now pressure will be on the 0.9276 levels.The AUDUSD will have to hold below the 0.9284 levels on a weekly closing basis to push the market for further downside losses, If seen , It will confirm short term topping and flip bias back to the downside for retesting the 0.9068 levels , a breach will turn focus on the 0.8891 levels further downside will aim the 0.8847 levels.

Alternatively, a failure to hold below the 0.9284 levels on a weekly closing basis could mean a return to the 0.9528 levels, a halt is suggested but a breach will turn focus on the 0.9665 levels further upside will aim the 0.9960 levels.

In all , the pair will remain biased to the upside with risk towards the 0.9528/0.9665 levels as long as the 0.9284 levels hold on a weekly closing basis, losing the 0.9284 levels will reverse risks to the downside towards the 0.8891/0.9068 levels.

Support and resistance levels (weekly chart) : 0.8065 , 0.8316 , 08633 , 08847 ,0.8891, 0.9068 , 0.9284(Pivot),0.9528 , 0.9666, 0.9960 , 1.0310

Trend Strength (Weekly Chart):

  • Bullish : above 0.9284
  • Neutral : below 0.9284
  • Bearish : below 0.8847


Recommendations : Buy on the break of 0.9528 (daily basis) or buy after rejection above 0.9284 (daily basis).OR sell after rejection below 0.9284 (daily basis).

AUDUSD-Weekly Chart

AUDUSD – Weekly Forecast 30 Sept – 04 Oct 2013

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