AUD/USD forecast for the week of September 24, 2012, Technical Analysis
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The AUD/USD pair fell during the week as 1.05 level proves to be rather resistive. However, the 1.04 level offered support, and it does look like we are simply trying to build up pressure to break out to the upside. With the Federal Reserve going into massive quantitative easing, it is very likely this pair will continue higher. However, Australia is highly leveraged to China which of course has been slowing down. It is because of this that this pair isn’t one of our favorites at the moment. On a break of the 1.06 level however, this pair would certainly be broken out.
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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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