The Aussie has the potential to make a major swing low after we rallied from near the big psychological number 0.7500. For the bullish case to remain valid, we need to continue trading above the 0.7500 figure on a daily closing basis. Now, in order for the current bullish run to have more legs we need a daily close above 0.7638. The stochastic indicator is moving away from overbought territory which means we can expect more ranging activity early in the week before the real move to start. We can also note that the next big resistance level only comes at 0.7730. The Australian economic calendar doesn’t have scheduled any major risk events that can be the catalyst for high volatility. This suggests that we should expect a more technical driven market. Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast - 27th Nov to 1st Dec Nov 2017