AUDUSD: Weekly Forecast 3rd – 7th February 2020

The Aussie was heavily and negatively impacted by the Coronavirus outbreak which has sent the price tumbling for the entire January. The RBA has been cutting interest rate in order to revive its economic growth since late 2011, from above 4% to only 0.75%.

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AUDUSD: Completion of Pullback After Major Breakout

While the dollar was still recovering and climbing, Aussie might prove to be stronger as employment data outperformed. It helped boost the already bullish structure of AUDUSD which had previously broken above both major falling channel and 200MA.

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