Fundamental view:

King Dollar won the battle in the last full trading week of September, with AUD/USD plummeting and nearing the 0.7000 threshold. Several factors combined to put the greenback back in its throne this week, including a speech from RBA’s Deputy Governor Guy Debelle. US Unemployment Claims on 24^th Sept , US Core Durable Goods Orders on 25^th Sept favored uptrend for the pair whereas US Richmond Manufacturing Index on 22^nd sept and Flash Manufacturing PMI  on 23^rd Sept favored downtrend for the pair

Aussie will find it difficult against the American rival in the upcoming week.

The major economic events deciding the movement of the pair in the next week are US CB Consumer Confidence Index at Sep 29, Commonwealth Bank Manufacturing PMI, US GDP quarterly report at 30 Sep, US ISM Manufacturing PMI at Oct 01, Australia Retail Sales monthly report, and US Nonfarm Payrolls at Oct 02.

AUD/USD Weekly outlook:

Technical View:

Last week’s high was 0.28% lower than the previous week. Maintaining high at 0.7324 and low at 0.7005 showed a movement of 319 pips.

In the upcoming week we expect AUD/USD to show a bearish trend.  The currency pair is trading below the 100 Simple Moving Average and the MACD trades to the downside. A solid breakout below 0.6916 may open a clean path towards 0.6801 and may take a way down to 0.6597. Should 0.7234 prove to be unreliable resistance, the AUDUSD may raise upwards 0.7438 and 0.7553 respectively. In H4 chart bearish flag pattern favors prospects of a bearish trend. Also to be noted Bearish engulfing formation exerts the expectation of downtrend for the pair.