By FX Empire.com
The AUD/USD pair fell during the week as it finally broke the bottom of the recent consolidation range. The Aussie will continue to benefit from the “risk on” trade and the commodity markets. The Aussie is in a strong uptrend, and the end of the week saw a bit of a bounce as well. The 1.04 level looks very supportive to us, and it would take a close on the daily charts below that level in order to think of selling. The pair is one of the best performing ones in the market lately, and as such we continue to buy dips. A break of the 1.08 level sends this pair much higher, to 1.10, and more than likely beyond.
AUD/USD Forecast for the Week of March 12, 2012, Technical Analysis
Originally posted here
