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Good day forex traders.
In the previous AUD/USD forecast we noted that the currency pair was bullish. It remained above the upper bollinger band. We might see a test of the 0.76 resistance in the upcoming week.
In the previous EUR/USD forecast we noted that bullish momentum might test 1.12 again before targeting the upper bollinger band. The middle bollinger band would be a likely support for any bearish return.
Technical Analysis
Looking at the AUD/USD weekly chart above we note that the currency pair is bullish for the week. It tested 0.76 as expected.
The currency pair has not established a new range. If it remains engaged above 0.76, we may see it easing into the 0.76 to 0.785 channel.