AUD/USD Forecast August 20, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The AUD/USD pair had a very significant fall during the Friday session as the 1.05 level gave way. This was a strikingly strong move, but it should be mentioned that we are approaching the uptrend line of the ascending channel that has been guiding this pair since early June. Because of this, we are not willing to sell, and have not been able to get our heads around selling until we get below the 1.03 level for some time. In fact, on some sign of supportive action at this price area, we are more than willing to go long based upon the tried and true strength of this channel. Otherwise, we will be very flat of this market.

AUD/USD Forecast August 20, 2012, Technical Analysis

AUD/USD Forecast August 20, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network