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Good day forex traders and readers.
In the previous AUD/USD forecast we noted that the 0.89 would probably be a strong support. Should bullish correction persist, we might consider a target of just above 0.9. Fundamental conditions remained weak.
Looking at the AUD/USD daily chart above we note that the currency pair failed to gain bullish momentum and slowly slipped lower throughout the trading week.
0.89 continues to play a pivotal role and the currency pair is now slightly below it. I would not rush to presume that this is an indication of a failure in support. I recommend more monitoring to see if the AUD/USD dips lower.
I have indicated possible immediate support and resistance levels in the chart.
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