The Aussie broke to new 2018 lows, but the fact that we couldn’t post a weekly close below previous swing low indicates that the bulls are already trying to step in. As long as we stay above last week low 0.7346 we should expect the upside momentum to prevail. However, a daily close below 0.7346 can open the door for a retest of the next important support level 0.7265. The stochastic indicator has reached overbought territory, so we need to wait for a reset before the bulls can show up. On the upside, the fist major resistance level comes at 0.7470 but the line in the sand remains the big psychological number 0.7500. There are no major risk events scheduled on the Australian economic calendar that can disrupt the market volatility. We should expect the AUDUSD to be more technical driven and more sensitive to the major technical levels. Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast - 25th to 29th June 2018