AUD/USD Forecast September 10, 2012, Technical Analysis
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The AUD/USD pair had a stellar day on Friday as the jobs report in the United States came out poorly. This signals that the Federal Reserve will more than likely be forced to embark on more quantitative easing, and this always tends to favor the commodity markets and the commodity currencies as well.
The pair stopped at the 1.04 level, but it should be said that in just 48 hours the pair has risen over 350 pips. By any measure, this is a very significant move. With signs of strength like this, we are more than willing to buy any pullbacks as they come.
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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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