AUD/USD Forecast September 28, 2012, Technical Analysis

The AUD/USD pair shot straight up like it was launched from a cannon on Thursday after printing a nice hammer on Wednesday. The risk on trade came back into focus, and as such it looks like we are attempting to reach the 1.05 level now. However, we simply don’t have enough room to warrant the risk as the risk to reward ratio is a there in this pair now. With this in mind, we are sitting on the sidelines, and waiting for some type of nice pullback that shows signs of support in order to go long.


Written by FX Empire