The Aussie has reached an important milestone after touching the big psychological number 0.8000. The current strong bullish run has reached a potential zone from where it can finally post a retracement. We couldn’t manage to post a strong close above 0.8000 and this can be the first warning for the bulls.
On the downside, the first area of interest only comes at 0.7930 followed by 0.7800 round number. The stochastic indicator is moving away from overbought condition which can suggest that at least we can see some type of consolidation. There is no major risk events scheduled on the Australian economic calendar. We should expect AUD/USD to be more technical driven this coming week.
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AUDUSD Weekly Forex Forecast – 22nd to 26th Jan 2018
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