AUD/USD Forecast for the Week of June 11, 2012, Technical Analysis

AUD/USD rose during the week as the “hopium” trade came back into the markets. The Chinese will be announcing some key economic numbers over the weekend, and as such this pair could be moving quickly on Monday when we all come back to trade. The set up is fairly easy though, as a break above the highs from the week is a buy signal, and a breaking of the lows from the week before is a strong sell signal. We can see that the overall trend is down, but there are so many potential headlines out there that we simply have to find some kind of confirmation as mentioned previously. 

AUD/USD Forecast for the Week of June 11, 2012, Technical Analysis
AUD/USD Forecast for the Week of June 11, 2012, Technical Analysis

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