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Good day readers.
In the previous AUD/USD forecast we noted that the currency pair was a doji for the week. As expected, the middle bollinger band functioned as a resistance for the price action.
The doji nature of the AUD/USD suggested that the traders were undecided with regards to the currency pair. This was expected as the US Federal Reserve interest rate hike was due.
Technical Analysis
Looking at the AUD/USD weekly chart above we note that the currency pair was bullish for the week. It is currently testing the middle bollinger band again.