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Good day forex traders and readers.
In the previous AUD/USD forecast we noted that the currency pair ended pretty flat. Speculations of an October tapering of the quantitative easing program of the US started to surface and the threat of the debt ceiling impasse crisis loomed.
Looking at the AUD/USD daily chart above we note that the currency pair was bullish for the week. Initial fears of risk aversion seemed to be unfounded and thus again cementing the fact that forex is never 100% predictable.
The current region is yet another S&R support and resistance zone and hence a breach of which will signal the possibility of more bullish action.
A return of the bearish pressure is likely to send the AUD/USD down towards 0.93.
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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