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AUD/USD Analysis Forecast, May 22, 2015 – Forecast

Analysis and Recommendation (AUD/USD Analysis Forecast 22 May):

The AUD/USD added 19 points showing little reaction to disappointing Chinese manufacturing data. On the contrary traders are now hoping the Chinese will add additional stimulus. The pair is at 0.7893.  China’s manufacturing sector contracted for a third straight month in May, a private survey showed on Thursday.  The HSBC flash Purchasing Managers’ Index (PMI) came in at 49.1, weaker than the 49.3 print forecast by Reuters but better than the 48.9 final showing in March. A reading below 50 indicates contraction.

The poor reading, which followed a raft of downbeat April data, reinforced analysts’ views that the government has to take bolder steps to combat a protracted slowdown, as growth threatens to drop below 7 percent for the first time since the global financial crisis.

The Aussie has found support after falling late yesterday following the release of US central bank minutes indicating its key interest rate will remain unchanged for some months.

AUD/USD Technical Analysis Forecast For 22 May

After breaking short term uptrend below, we saw that AUDUSD fell down till 0.7860. Today it made a weak rise and currently its over 0.7910. If gets below 0.7840 and has some hourly closings below, bearish pressure would be more on AUD/USD. For SELLERS targets should be 0.7860 and 0.78. Before getting over 0.7940, BUY is not recommended.

audusd analysis forecast 22 may

 

AUD/USD Support And Resistance Levels for 21 – 22 May

Pivot : 0,7940

Support: 0,7860 – 0,7845 – 0,7800

Resistance : 0,7910 – 0,7940 – 0,7973

 

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information for AUD/USD in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  CNY HSBC Manufacturing PMI 49.1 49.3 48.9  

 AUDUSD(60 minutes)20150521064452

Upcoming Economic Events that you should be monitoring for AUD/USD in forex trading:

Friday, May 22, 2015

Cur. Event Actual Forecast Previous
  EUR German GDP (QoQ) (Q1)   0.3% 0.3%  
  JPY BoJ Press Conference        
  EUR German Ifo Business Climate Index (May)   108.3 108.6  
  EUR ECB President Draghi Speaks        
  GBP BoE Gov Carney Speaks        
  USD Core CPI (MoM) (Apr)   0.2% 0.2%  
  CAD Core CPI (MoM) (Apr)   0.2% 0.6%  
  CAD Core Retail Sales (MoM) (Mar)   0.4% 2.0%  
  GBP BoE Gov Carney Speaks        
  EUR ECB President Draghi Speaks        
  USD Fed Chair Yellen Speaks      

Government Bond Auctions

Date Time Country

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

 

 

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