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In the previous AUD/USD forecast we noted that the currency pair did turn bearish as a result of the failure to breach 0.81. The 0.785 bearish target was achieved and the AUD/USD was testing the support region of 0.765. If the currency pair managed to push below 0.755, we might be looking at new lows for the AUD/USD. Close monitoring was strongly recommended.
Technical Analysis
Looking at the AUD/USD weekly chart above we note that the currency pair attempted a bullish run. It tried to achieve a foot hold at 0.7850 but failed.