AUD/USD forecast for the week of October 1, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The AUD/USD pair fell during this previous week and retest of the 1.03 handle. We did get a bit of a bounce towards the end of the week however, and as a result it looks like we may be seen an attempt to move back up to the 1.05 handle. Nonetheless, we do recognize that selling the Australian dollar is reckless at this point considering the moves that we've seen in the gold markets recently, and the Federal Reserve expanding its monetary policy. With this in mind, we would be buying the Australian dollar now, but do recognize that the 1.05 - 1.06 area could cause a bit of a problem.

 

AUD/USD forecast for the week of October 1, 2012, Technical Analysis

AUD/USD forecast for the week of October 1, 2012, Technical Analysis

 

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