AUDUSD Forecast May 28 2014

We are in bearish mode on AUDUSD pair.

Technical analysis for AUDUSD

On weekly chart we can see its failed to break the strong resistance point 0.94000. It is now suppose to go the the 0.86626 level.

In the weekly chart we can see last weekly candle closed below the opening of the last weekly standard bullish candle. A nice indication for bearish market in coming weeks.

audusd weekly forecast may 27, 2014

The H4 chart also shows that its just bounced from the downward Fibonacci 23.8 level. Though we are experiencing a resistances on h4 200EMA level. But if we consider the longer time frame and fundamental of AUD dollar it indicates us that Aussie dollar will fall on coming days and weeks.

audusd h4 chart 27-4-2014

Fundamental Analysis for AUDUSD

Still Australian government is favoring a weaken AUD dollar price. Its started from the cut of last interest rate. Still authority is biased to maintain that rate. So for us AUD dollar will fall more.