AUD/USD Technical Analysis for April 28, 2011

The AUD/USD pair skyrocketed again today as the gold markets were very bullish. The Aussie benefitted from the massive buying the gold markets saw in the afternoon as the Fed decided to continue with QE2. The pair has now broken the 1.08 mark, and it appears that it is somewhat unstoppable. However, you should look for pullbacks as the pair is most certainly an overextended pair.

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