AUD/USD Forecast for the Week of April 23, 2012, Technical Analysis

The AUD/USD pair rose for the week as the bounce from the 50% Fibonacci level continues to push prices higher. The breaking of the highs from the previous week (shooting star) is needed to be completely confident in this bullish attitude of this pair, and until then it is hard to be long. The bearish case will be difficult to make as well since the 1.02 level has been so supportive. With this in mind, we find this pair one that we would rather leave alone until we break above that candle from the previous week.

AUD/USD Forecast for the Week of April 23, 2012, Technical Analysis
AUD/USD Forecast for the Week of April 23, 2012, Technical Analysis

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