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Good day forex traders and readers.
In the previous AUD/USD forecast we do note that the currency pair unexpected turned bullish. From a fundamental point of view, improving global economic conditions such as in the Euro Zone and China, is probably causing a bullish uplift for the AUD/USD.
Looking at the AUD/USD daily chart above we note that the currency pair ended the week right in the region of the week before. This suggests a lack of a clear direction from the market. The week of trading was confined to mainly narrow ranges.
Should the bullish pressure push it over the edge, we may expect a extended bullish target of 0.9330. Any resumption of the bearish trend may send the AUD/USD towards a test of 0.8880 again.
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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