-
Australian Dollar Technical Forecast: AUD/USD V-Shaped Recovery Brews
The Australian Dollar surged more than 3% off the weekly lows on the heels of the Fed with Aussie snapping back above a key support pivot. The reversal hinges on a weekly close above this threshold and may fuel a larger recovery in the days ahead if achieved. These are the updated targets and invalidation levels that matter on the AUD/USD weekly price charts into the close. chart In my last AUD/USD Weekly Technical Forecast we warned that, “a rebound off downtrend support takes the Australian Dollar into downtrend resistance early in the month- risk for topside exhaustion into 7288.” Aussie registered a high at ... (full story)