AUD/USD Forecast October 23, 2013, Technical Analysis

The AUD/USD pair rose during the session on Tuesday, breaking above the 0.97 level during the trading hours, showing that the market is ready to continue higher. That being the case, we feel that this market will ultimately have the parity level, especially considering that the nonfarm payroll numbers came out so poor during the session. With that being the case, a short-term pullbacks should offer a buying opportunity as the gold markets should continue to rise, as well as the Australian dollar as they tend to move hand-in-hand. Selling is not an option, and we believe that the 0.95 level is the ultimate “floor” in this market right now.

 

AUD/USD Forecast October 23, 2013, Technical Analysis

Written by FX Empire