The currency market is quite unstable since the values and rates are subject to change at any point in time. In order to be on the safer side, there is a need to have a good prediction plan which will help to prepare the trader for any future change that may likely occur. In view of this, the AUD/USD rate prediction has been put together.
Amidst the economic release and risk of the atmosphere, the Australian dollar was able to dip its feet at a lower ground. Find below the highlights of the week and an updated technical analysis for the AUD/USD for the rate prediction.
The Australian dollar along with other major currencies of the world sank in value but never went too far as it was recovered by an upbeat figure. The job reports were a bit mixed up, with fewer job gains than the already predicted with a high drop in the unemployment rate. Just as in other places, wage still remains an issue in Australia.
The behavior of the AUD USD can be recorded, studied and the next behavior forecasted bearing in mind the issues of inflation, country’s economy and interest rates. The interest rates and inflation has a great tendency of controlling the market in order to make the currency lose its value. To effectively carry out an AUD USD rate prediction, it is important that an expert who has eyes for details and figures should be employed.
AUD/USD TECHNICAL ANALYSIS
The Aussie initially slipped to the lower ground, slipping under 0.7625 (mentioned last week) However, it kept on fighting for quite a while.
• US durable goods orders fall by 1.2% – USD follows: Durable goods orders fell by 1.2%, much worse than +0.3% expected. A small upwards revision worth 0.2% is not enough...
• US existing home sales beat expectations – USD ignores: Sales of second-hand homes are on the up, hitting an annualized level of 5.48 million in October, better than 5.42...
• AUD/USD flirts with lower lows amid the RBA minutes: The Reserve Bank of Australia released its meeting minutes from the most recent rate decision in November. They said that...
• Pound problems and real raises – MM #165: The yield curve is flattening and this serves as a warning sign of an upcoming recession. Are the worries justified?
The rights predictions make the trader stay ahead of the game, it keeps him or her ready for any slight change that may have been avoided, and it makes assists the country is understanding the market structure and how to boost the economy of their country through foreign sales. It also grants the trader the rare privilege of knowing before others, what the market holds.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.