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In the previous AUD/USD forecast we noted that the currency pair turned bearish for the week. It punched right through the middle bollinger band.
The middle bollinger band may serve as a resistance next week. Close monitoring on shorter time frames was recommended.
Both upper and lower bollinger bands were considered to be extended bullish and bearish targets for now.
Technical Analysis
Looking at the AUD/USD weekly chart above we note that the currency pair was a doji for the week. As expected, the middle bollinger band functioned as a resistance for the price action.