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In the previous AUD/USD forecast we noted that the currency pair turned bearish for the week. It punched right through the middle bollinger band.
The middle bollinger band may serve as a resistance next week. Close monitoring on shorter time frames was recommended.

Both upper and lower bollinger bands were considered to be extended bullish and bearish targets for now.

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Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair was a doji for the week. As expected, the middle bollinger band functioned as a resistance for the price action.

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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