AUDUSD Weekly Forecast Mar 03 2014

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Minors - 956854 (1)

The AUDUSD was rejected from the key resistance 0.9085 as suggested the previous weeks , , note that as long as 0.9085 holds on a weekly basis, fall from 0.9757 levels should extend beneath 0.8660 levels towards 0.8490 levels , a cut will extend losses towards the 0.8150 levels.

In short term view , sustained trading below the 0.8900 levels should target the 0.8760 levels , a rejection is likely , but more losses will aim the 0.8500 levels.

On the upside , break of 0.9085 on a weekly basis will signal short term bottoming , If seen , sooner or later the pair will recapture the 0.9447 levels , a halt could be seen  , but a breach will target the 0.9757 levels.

In all, as long as 0.9085 holds on a weekly basis , the AUDUSD is likely to return to its medium term downside bias with risk towards 0.8660/0.8490 levels , break of 0.9085 will bring rebound towards the 0.9447.

 

AUDUSD Weekly Forecast Mar 03 2014

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