Westpac Forecasts for AUD/USD: key support level will be broken; rally to be started in Q3 2016 only
29 October 2015, 09:11
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AUD/USD
This pair is on bearish market condition for
ranging between 0.6907 key support levels and 38.2% Fibo key resistance level at 0.7381. The price crossed 23.6% Fibo support from above to below for 0.6907 as the next bearish target.
According to the forecast made by Westpac Banking Corporation, this 0.6907 key support level will be broken by Q1 Mar'16, and the secondary bear market rally will be started in the end of the next year only with 0.6907 as the target.
| Pairs | Q4 Dec'15 | Q1 Mar'16 | Q2 Jun'16 | Q3 Sep'16 | Q4 Dec'16 |
|---|---|---|---|---|---|
| AUD/USD | 0.680 | 0.660 | 0.660 | 0.670 | 0.690 |
Thus, the price for the pair will be recovered by the end of 2016.
