AUD/USD Forecast October 10, 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 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

Find a Broker
Continue to FX Empire Network