The AUD/USD currency pair may rise in the short term. According to the daily chart, the price reached EMA 50 and EMA 200. The next level might be 0.76 Fibo (0.7899 price level).
However, there is a highly probability for this pair to enter in a downtrend in the medium and long term, according to our technical and fundamental analysis. In this case, the price might hit 0.50 Fibo (0.7637 level) and 0.38 Fibo (0.7520 level).
The main economic data of this week:
US Housing starts MoM (+1268k expectation: +2.6% expectation ); (+1236k previous: -7% previous)
US Industrial Production (+0.4% expectation); (+1.1% previous)
- Australia Employment Change (+20k expectation); (+17k previous)
Unemployment Rate (5.5% expetaction); (+5.6% previous)