By FXEmpire.com
The AUD/USD pair fell fairly hard during much of the Thursday session, but bounced towards the end of the day. The 1.04 level is a massive support area, and as a result we saw plenty of buyers step into the market in order to take advantage of cheap Aussie dollars. The area is the site of a massive triangle break to the upside that has us thinking a run all the way to 1.12 is possible. The real question is what prices will do in a reaction to this attempt to break things down. None the less – we aren’t low enough to think that selling this pair is a good idea. In fact, we are buyers on a break of the highs of the Thursday session.
AUD/USD Forecast March 23, 2012, Technical Analysis
Originally posted here
