AUD / USD Forecast - January 23 - 27, 2012

Last week, the AUD climbed almost 200 pips against the USD, ending the week at 1.0485. Here are the four indicators scheduled to release in this week, and a brief technical analysis for AUD / USD.

PPI: 23.01.2012, 00:30. This inflation index is very important and published only once every quarter. The index has been falling from April, recording an increase of 0.6% in third quarter. The forecast for Q4 is an increase of 0.4%. 

CB Leading Index: 23.01.2012, 23:00. This combined index is based on seven main economic indicators. The index increased of 0.6%. 

MI Leading Index: 24.01.2012, 23:30. This combined index is based on nine economic indicators. Since April 2009, the worst reading was in November, 2011, a reading of a 0.3% drop. Last month, though, the index rebound, with an increase of 0.1%.

CPI: 25.01.2012, 00:30. Similar to the PPI, this main inflation release has been on a descending trend. The markets are calling for a small increase this month of a 0.2%. 

* All the times are GMT.

AUD / USD Technical Analysis

Last week :
Opened at : 1.0290
Dropped to : 1.0253
Rose aggressively, breach resistance at 1.0400
Climbed to : 1.0488
Closed at : 1.0485

Technical levels for the pair, AUD / USD.

1.0733 - Strong Resistance
1.0660 - Strong Resistance
1.0500 - Strong Resistance
1.0400 - Resistance (Breached last week)
1.0300 - Weak Support
1.0200 - Weak Support
1.0080 - Strong Support
0.9900 - Strong Support
0.9850 - Strong Support
0.9660 - Strong Support


Bullish on AUD/USD

The Australian Dollar had a wonderful week against the USD. AUDUSD is now looking at the 1.0500 level, after last October. On the other hand, Australian employment figures and new motor vehicle sales were losing, showing that consumer confidence is weak. But, in a technical point of view, we think Aussie will aim he 1.0660 level.