Business
AUD/USD Weekly Price Forecast – Australian Dollar Breaks Out – FX Empire
The Australian dollar broke out on Friday, culminating in an explosive weekly candlestick. We are now well above the 200 week EMA, a major technical victory.
The Australian dollar has rallied rather significantly during the course of the week, especially on Friday as the US dollar is getting absolutely pummeled. With that being the case, it does make sense that we continue going towards the 0.75 handle, followed by the 0.80 level. Pullbacks at this point in time should continue to be buying opportunities as there is so much strength and the Aussie and has been for some time. I think at this point, the 0.71 level is now the “floor” in the market and b…
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