By FXEmpire.com
The AUD/USD pair rose during the week as it bounced from the 50% Fibonacci retracement level. The pair is at a major support region, and because of this we prefer buying and not selling. As this market moves, it will be influenced by the “risk appetite” of the markets, and as headlines come out from Europe, this pair will move right along with them. We like buying, but need to see a break above the top of the week’s range in order to do so. We won’t sell there are far too many support levels below.
AUD/USD Forecast for the Week of April 16, 2012, Technical Analysis
Originally posted here
