Simultaneous Release at
Good day forex traders and readers.
In the previous AUD/USD forecast we noted that the currency pair was somewhat flat for the weak. A mixture of bullish and dovish reasons probably caused the inaction. The Rsserve Bank of Australia meeting minutes would be a release to monitor for influences on market sentiments.
Looking at the AUD/USD daily chart above we note that the currency pair was bearish for the week. While it attempted to recover towards the end of the week, the bullish pressure was weak and now the middle bollinger band is functioning as an immediate resistance.
A caution to all the traders out there, while we had a good bearish run for the AUD/USD ( looking at the TheGeeKKnows 24 weeks AUD/USD profile below, it is over 1000 pips ) , recent currency movements are less predictable and hence do manage your risk exposure.
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.