AUD/USD Forecast: Australian dollar enjoyed a second consecutive week, but the rally met its boundaries. What will happen next? Australia’s jobs report and wage data stand. Here is an updated technical analysis for the week’s highlights and AUD/USD.
1. 0.7480 captured the pair in mid-July and saved the level of 0.75. 0.7420 added two pairs in mid-July. In mid-July, there was 0.7360 low point.
2. 0.7310 is at the lower level of July 2018. The swing was low at the end of August 0.7240 and the pair attempted to reach mid-September.
3. The round number of 0.7200 was temporary low. 0.7150 was a stepping stone on the way in early September. At the end of October 0.7020 were the last defense before the low point and the round number of 0.70.
4. The round number of 0.70 is closely watched by many market participants. Close, played a role in 0.6970 January 2017. Below, only the notable level is only 0.6825, which supports the pair at the end of 2016 and at the beginning of 2017.