AUD/USD Weekly Fundamental Analysis July 9-13, 2012, Forecast

Introduction:  The Australian dollar still isn’t in its good old days, but the performance is definitely improving. Resistance lines tend to work in a smoother manner than support lines, but they also work well. The pair move well together, not much volatility, but easy to chart and easy to trade with low risk factors

Weekly Analysis and Recommendation:

The AUD/USD closed the week just a bit lower then it opened the prior Monday. With risk aversion back in the markets and the USD back to being the favorite safe haven, the Aussie was fighting a losing battle. The AUD closed the week at 1.0212

Midweek the Aussie was able to gain on strong retail sales as the USD was weak; it was the disappointing trade balance and the negative data from China that weakened the AUD

This coming week brings some much awaited eco data from China as well as some tier two data from Oz. There might be some action here, except that the USD is remaining strong.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Major Economic Events for the week of July 2 – 6 actual v. forecast for Yen, the Aussie, the Kiwi and USD

Historical:

Highest: 1.1080USDon Jul 27, 2011

Average: 0.9126 USD over this period

Lowest: 0.6007USD Oct 27, 2008

 

Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD