AUD/USD Forecast July 8, 2013, Technical Analysis

The AUD/USD pair fell during the session on Friday, as the Australian dollar continues to get pummeled. This would have been exacerbated by the fact that the nonfarm payroll number came out much stronger than anticipated, causing rates in the United States to rise rapidly. The interest rate differential between the two currencies is currently is appearing, and aged is slowing down which of course puts a single beer drag on the Australian economy. That being said though, we are just above the 0.90 level, and as a result there is a strong possibilities of support there. We’re looking for a rally to continue to sell this market.



Written by FX Empire