AUD/USD forecast for the week of October 1, 2012, Technical Analysis
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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.
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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