AUD/USD Forecast February 21, 2013, Technical Analysis

The AUD/USD pair fell hard during the session on Wednesday as commodities got hit across the board. The Federal Reserve released its minutes from the last month during the session on Wednesday, and as a result people are starting to think that the Federal Reserve may exit asset purchasing a little quicker than anticipated. Because of this, the commodities markets in general got crushed, as the Australian dollar followed suit. We are still above the 1.02 level however, so we certainly have support below. With that in mind, we are looking to see whether we get a supportive candle in order to buy, or a daily close below that level in order to sell this pair.



Written by FX Empire