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Good day forex traders and readers.
Welcome to our AUD/USD forecast. We last visited this currency pair sometime back and it has made good progress.
Technical Analysis
Looking at the AUD/USD weekly chart above we note that the currency pair has been on a steady bearish down trend since September last year. I am maintaining a position from just above 0.9 and I am contented. I did take some profit as I believe in proper money management. A few readers wrote in to express their thanks and all I can say is I am happy for you all!
The technical chart above suggests a significant support at the region of 0.7620. I am not a big risk taker and hence I am looking at this level closely to monitor the price action.
Any bullish recovery may target 0.7780.