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Good day forex traders and koalas.
Welcome to another forecast of the AUD/USD currency pair. In the previous week we noted an unexpected dip due to the report that the Australia budget would likely not produce a surplus. The markets took this development with apprehension and the Aussie dollar was sold.
Looking at the AUD/USD chart above we noted that the currency pair fell further towards a previous support region. The price action consolidated towards the end of the week probably due to low volume. As we are still in the midst of the year end period, be careful of unexpected price action.
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continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.