In the previous AUD/USD forecast we noted that the currency pair indeed went for an unprecedented low. Many of our readers wrote in to share that they earned a lot. That was excellent news. From a technical point of view, the currency pair remained bearish. The lower bollinger band was steep. The AUD/USD tested 0.69 and had since eased above 0.7. Any downwards pressure would likely test 0.69 again. A bullish recovery would likely test 0.725.
Looking at the AUD/USD daily chart above we note that the currency pair did test the resistance of 0.725 as expected and had earlier made a push for 0.69. Many readers were pleased with the clockwork outcome.
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.