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TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.
Good day forex traders.
In the previous AUD/USD forecast we noted that the currency pair was currently in a consolidation region and hence prudence was probably necessarily as both directions of trade would be possible. While China’s slowing import was negative sentiment for the Aussie dollar, the improving US employment market probably brought global positivity
Technical Analysis
Looking at the AUD/USD daily chart above, the support region held and the currency pair went below the consolidation region. It was pretty much a bullish dominated week. If there is no adverse fundamental changes to cause a shift in sentiments, we may see 1.0440 as the immediate bullish target.
Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.
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