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Good day forex traders and readers.
In the previous AUD/USD forecast we noted that the currency pair was bearish for the week. It could not advance beyond the resistance of 0.74 and instead headed towards the extended support of 0.723. There was no obvious indication that a bullish recovery would take place. As we headed towards 0.723, be mindful that a clear breach would take us to a new region of low.
Technical Analysis
Looking at the AUD/USD daily chart above we note that the currency pair indeed went for an unprecedented low. Many of our readers wrote in to share that they earned a lot. That is good news indeed!