This week is a classic showcase of sentimental influence on price action. The AUD/USD ended as a doji as apprehension freezes momentum.
AUD/USD Forecast
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The AUD/USD heads to record low before easing back to a near doji. Sentiments improved towards the end of the week as RBA official comments.
The AUD/USD plunges for a test of the important technical and sentiment region of 0.68. US China trade war is likely a drag on the Australian economy.
The AUD/USD failed to gain a foothold above 0.7 resulting in a plunge into the 0.68-0.7 region. Important economic events are scheduled for the week ahead.
The general sentiment of the AUD/USD appears to be gradually shifting. Important economic data is due to be released in the week ahead.
With the speculations of interest rate cuts and quantitative easing, it is important to understand the underlying tones of the EUR/USD and AUD/USD.