Simultaneous Release at
Good day forex traders and koalas!
In the previous AUD/USD forecast we noted that the bearish momentum breached the 1.0230 support and next would be 1.0150. The fundamentals continued to result in a weak economic environment for the Aussie dollar. Mainly China’s slow down.
Looking at the AUD/USD daily chart above we note that the bearish momentum did continue and the currency pair tested the 1.0150 support. It is good when our support level works. The AUD/USD had since eased and is now around 1.0230 region. This is a popular consolidation region too and hence we should probably monitor the price action early week to determine the sentiments. It is good to be prudent when trading forex.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.
Most Popular Slideshows
- Australia Bids Adieu to Adam Spencer's Mornings on ABC's "702 Breakfast" Show [PHOTOS]
- Top 10 Hottest Celebrities with Shocking Weight Loss (And Find Out Their Secrets!) [PHOTOS]
- Mars Curiosity Rover Photos: UFO Hunter Spots Strange 'Ruins,' 'Missile' [PHOTOS, VIDEO]
- Miranda Kerr Exposes Breasts to Crew, Wardrobe Malfunction 'Deliberate Accident?' [PHOTOS]