AUD/USD - The Aussie is a currency that has become a favored vehicle of traders in recent years. After a multi-decade commodity boom brought the Australian Dollar to all-time highs against the US Dollar, traders were often attracted by the interest rate differential in the pairing. This allowed traders to earn rollover for being long AUD/USD, while also benefitting from a massive bull run seen in the pair. Of recent, tides have appeared to change as economic difficulties in China coupled with bear markets in metals and many commodities, have created a more opaque picture of the future of Australia's financial prospects.
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Weekly Australian Dollar and US Dollar Trading Forecast
|AUD To Continue Consolidation With Void Of Local Data On Tap||neutral|
|US Dollar Turn Can Forge Trend on Fed Decision, NFPs, 2Q GDP||bullish|
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|AUD/USD||neutral||daily||DARK CLOUD COVER||bearish||View Chart|
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AUD/USD Support & ResistanceW - Weak | M - Moderate | S - Strong
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