In the previous AUD/USD forecast we noted that the currency pair was again bearish for the week. It was at 0.7369 and below the bottom bollinger band. The extended bearish target of 0.72 was within reach and continued bearish pressure would likely achieve it. With the price action below the bottom bollinger band, many analysts were looking out for a bearish trend.
Looking at the AUD/USD weekly chart above we note that the currency pair was again bearish as expected. It is now just off the extended bearish target of 0.72.
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.