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Good day forex traders and readers.
In the previous AUD/USD forecast we noted the currency pair dipped below the previous low of 0.8880. For the EUR/USD, it also dipped towards the strong support of 1.32. From a fundamental point of view, both the US and Euro Zone reported positive developments. Australia on the other hand was mainly neutral. Regardless, the markets remained plagued by the US Federal Reserve quantitative easing tapering woes.
Looking at the AUD/USD daily chart above we note that the currency pair tested a previous high again. The current region is obviously crucial as it is an important resistance. Failure to block further bullish momentum may suggest a recovery towards 0.9280. The AUD/USD is now still within a swinging range of 0.8850 to 0.9230.
Looking at the EUR/USD daily chart above we note that the currency pair slipped below 1.32 and was not able to recover above it. Should the EUR/USD continue to fall, we may see a test of 1.3. It is now in a short term bearish channel.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.
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