AUD/USD Forecast October 10, 2012, Technical Analysis

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The AUD/USD pair had a slightly positive session during the Tuesday trading day, but the 1.02 level looks to be resistive. With this in mind, we cannot help but notice that this pair has struggled recently, and with global growth concerns increasing out there, it makes sense that the Australian dollar continues to suffer. Also, it should be noted that the Reserve Bank of Australia is expected to cut rates at least once, if not twice over the next six months. This obviously will weigh upon the value of the Australian dollar, and as such we think this pair continues to parity.

AUD/USD Forecast October 10, 2012, Technical Analysis

AUD/USD Forecast October 10, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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