genzr

AUD/USD Analysis for week ending 25 Oct

FX:AUDUSD   Australian Dollar/U.S. Dollar
185 0 4
Will be keeping an eye on Chinese GDP figures on Monday to see if we get that catalyst to move back down to the 0.72000 psychological level. I wouldn't be surprised to see continued Aussie weakness heading into Tuesday's RBA meeting minutes.

I feel as though the 0.72000 psychological level is going to be decent support as it coincides with the 23.6% fib level from the daily highs back in May. Then again, we could break through if we get some dovish comments out of the RBA, poor Chinese GDP data, and stronger US housing figures.

US Jobless claims and existing home sales later in the weak could provide further conviction if we get some good prints.

SWFX Sentiment Index shows over 70% of liquidity consumers net long on AUD/USD             . I believe there is room for open sentiment to change which could amplify a downward move in the pair.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out