AUD/USD forecast for the week of January 21, 2013, Technical Analysis

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Posted January 19, 2013 5:02 (GMT) | By FX Empire Analyst - Christopher Lewis | Print | Font Size       | Add a comment

The AUD/USD pair ended up negative for the week, as we attempted to break out above the 1.06 level again. Weaker than expected employment numbers in Australia of course weight upon the Aussie dollar, and this of course weight on this pair. Looking at this chart, it appears that we are currently stuck in consolidation between 1.04 and 1.06, and as a result long-term trade to be difficult to come by. Our base case is still a breakout to the upside and above 1.06, and as a result on a daily close above that level we are more than willing to start buying

AUD/USD forecast for the week of January 21, 2013, Technical Analysis

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