AUD/USD Forecast for the Week of January 30, 2012, Technical Analysis

AUD/USD had a strong week as traders continue to pile into the Aussie. The Dollar got sold off after the Federal Reserve announced an extension of their ultra low interest rate policy on Thursday which absolutely pummeled the value of the Greenback against almost everything. The triangle on the daily chart suggests a move to 1.12, and with the easy money coming out of the United States, this is no longer such a wild thought. The 1.07 level is just above, but that resistance should give way. We are buying the pullbacks in this pair as long as we are above the 1.04 level.

AUD/USD Forecast for the Week of January 30, 2012, Technical Analysis
AUD/USD Forecast for the Week of January 30, 2012, Technical Analysis

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