AUD/USD Forecast February 15, 2012, Technical Analysis

The AUD/USD pair had a volatile day on Tuesday. The pair continues to hover just below the 1.08 level, and the headlines around the world continue to be a drag on the upward momentum. The pair has rallied in a strong move lately, and the failure at the 1.08 level seems to be more of one that is restful, not weakness. The pair needs to rest at this level, and a pullback could be coming as well. The 1.06, 1.05, and 1.04 levels all could offer support on that pullback, and we are more than willing to buy the market at these levels will supportive candles. We are not thinking of selling the market at this point.

AUD/USD Forecast February 15, 2012, Technical Analysis
AUD/USD Forecast February 15, 2012, Technical Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *