The Aussie continues to trade around the big psychological number 0.7500 and we can expect more price range around this round number as the bearish trend has run too far in a very short period of time. The trend needs to breath and as long as we stay below 0.7625 resistance level we can expect the downside momentum to prevail.
Since the stochastic indicator is in oversold territory we need a reset before we really can see a resumption of the bearish trend. The Australian economic calendar will bring on Tuesday the Mid-year economic and fiscal outlook which has potential to be the catalyst for some volatility. On Thursday the Unemployment rate is the highlight of the week for AUDUSD price.
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AUDUSD Weekly Forex Forecast – 11th to 15th Dec 2017
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