AUD/USD Forecast August 27, 2012, Technical Analysis

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

AUD/USD fell during the session on Friday in order to break through an uptrend line. The pair looks extremely vulnerable at this point in time, and in fact of the weekly chart even showed a shooting star. Because of this, we are suddenly looking at a break of the Friday lows as a signal from which to sell this market.

The 1.03 level will more than likely offer support, but we think that with the weakening it Chinese economic situation, this could be a serious move. Parity should be massive support though, and we think that this market could in fact aim for that level before it's all said and done. As for buying, we are not interested in till we hit fresh highs is roughly at the 1.06 level.

AUD/USD Forecast August 27, 2012, Technical Analysis

AUD/USD Forecast August 27, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network