AUD/USD EUR/USD Weekly Forecast 14 Mar 16
In the previous review we noted that the AUD/USD had a strong bullish momentum. It broke through the bollinger bands and might target the 0.76 resistance.
In the previous EUR/USD forecast we noted that from a technical point of view, the bollinger bands remained as good technical indicators of support and resistance levels. A clean break from 1.1 was needed before any further bullish momentum could be expected. The immediate resistance was likely to be 1.113 followed by 1.12. The extended bullish target would be the upper bollinger band.
Looking at the AUD/USD weekly chart above we note that the currency pair continued the bullish momentum for the week. It remained above the upper bollinger band thus indicating a strong momentum.
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