AUD/USD forecast July 23, 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

The AUD/USD pair fell on Friday as the “risk off” trade came roaring back. The Aussie should continue to fall in the short term, but the 1.03 level below looks very supportive. It is because of this that we are currently flat in this pair, and willing to wait until the market comes back down to the 1.03 level to retest it for support. If we see a supportive candle in that area, we won’t hesitate to buy this pair at that point in time. If we manage to break below the 1.03 level, we think the pair will fall to the parity level.

AUD/USD forecast July 23, 2012, Technical Analysis

AUD/USD forecast July 23, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network