Good day dear forex traders.
In the previous AUD/USD forecast we noted that the currency pair was slightly down for the week. The long candle was indicative of volatility experienced due to the yuan devaluation. The immediate resistance was likely at 0.74 while further advancement might see us at 0.75. Should the bearish momentum continued, an extended support would be at 0.723.
The AUD/USD weekly chart indicated that the currency pair was bearish for the week. It could not advance beyond the resistance of 0.74 and is now heading towards the extended support of 0.723.
Don’t miss the full forecast. Continue on to TheGeekKnows.com for the full technical analysis and the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.