AUD/USD Forecast for the week of September 17, 2012, Technical Analysis
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The AUD/USD pair had a strong showing this week as quantitative easing was announced out of the Federal Reserve. The 1.05 level has been broken, and the 1.06 level has been tested. We got a little bit of a pullback on Friday to form a shooting star, but this simply should just be a pullback from which more traders can get involved in the market. As long as there is massive quantitative easing, it is difficult to think that the Australian dollar will do poorly. Because of this, we are buying on dips in this pair and believe that we will eventually see the 1.08 highs again.
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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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