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Good day readers.

In the previous AUD/USD forecast we noted that the currency pair was bullish for the week. It had since breached the middle bollinger band. Bollinger bands could be a good indicator of possible support and resistance regions. From a technical point of view, the middle bollinger band might serve as an immediate support for now. Should the bullish momentum continued, 0.75 might be tested.

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Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair turned bearish for the week. It punched right through the middle bollinger band.

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.

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