fbpx

Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Forex Market: AUD/USD daily forecast

During yesterday’s trading session AUD/USD traded within the range of 0.9234-0.9308 and closed at 0.9235.

At 9:12 GMT today AUD/USD was adding 0.28% for the day to trade at 0.9274. The pair touched a daily high at 0.9287 at 8:25 GMT, breaching the first key resistance.

Fundamental view

Factory orders in the United States rose 0.5% in April, a monthly survey will probably reveal at 14:00 GMT. In March compared to February orders jumped 0.9%, which was a lower gain than initially reported. This indicator reflects current industrial activity in the country and also provides clues over sector development in the future. The survey is based on 89 different industrial categories, which are organized in 473 sub-groups. A larger rate of increase would be supportive for the US dollar.

Technical view

Screenshot from 2014-06-03 12:15:03

According to Binary Tribune’s daily analysis, in case AUD/USD manages to breach the first resistance level at 0.9284, it will probably continue up to test 0.9333. In case the second key resistance is broken, the pair will probably attempt to advance to 0.9358.

If AUD/USD manages to breach the first key support at 0.9210, it will probably continue to slide and test 0.9185. With this second key support broken, the movement to the downside will probably continue to 0.9136.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News