AUD/USD Forecast January 4, 2013, Technical Analysis

The AUD/USD pair initially broke through the 1.05 handle during the Thursday session, but got pushed back below it by the end of the day. The resulting candle is a little bit of a shooting star, and as a result it looks like we could see a pullback in this pair. With the US jobs number coming out later today, we could see significant volatility in the Australian dollar, and as a result we are simply going to wait to see where we end up before making it trading decision. We can’t say that a break above the 1.0530 level would be very bullish, while a break of the lows from the Thursday candle would be bearish. We also see the 1.04 level as likely to hold up as support.

 

AUD/USD Forecast January 4, 2013, Technical Analysis

Written by FX Empire