AUD/USD Forecast December 24, 2012, Technical Analysis

The AUD/USD pair fell rather harshly during the Friday session as we slammed into the 1.0 for support level. In fact, that’s exactly where we stopped and we managed to close of the very bottom of the range. This is typically a very bearish sign, but we see so much noise between here and 1.03 that we are very hesitant to short. In fact, we think that we will see some type of supportive candle in the general vicinity that we are at now, and that will be our signal to buy this pair yet again. As for selling, we do not plan on doing so until we can break below the 1.03 handle.


Written by FX Empire