AUD/USD Forecast September 14, 2012, Technical Analysis

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AUD/USD rose during the session after more quantitative easing came out of the Federal Reserve on Thursday. The 1.05 level has been broken above now, and as such it does look like we’re going to continue much higher.

The pair has risen quite a bit over the last couple weeks ago, and as such we think that a pullback could be coming. Nonetheless, we see the 1.05 level as significant support now and would be willing to buy any type of support candle in that general vicinity.

Should also be noted that the gold markets had a stellar day during Thursday, and as such we think that the Australian dollar should continue to do quite well. After all, the Aussie dollar and the gold markets tend to mirror each other, and certainly that was no different during the Thursday session. As for selling this market, we simply won’t do it now.

 

AUD/USD Forecast September 14, 2012, Technical Analysis

AUD/USD Forecast September 14, 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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