AUD/USD continues to rise as the Wednesday session saw the Federal Reserve promise ultra-low rates until at least the end of 2014. The higher yielding and commodity sensitive Aussie was a perfect choice for longs as the market will almost always run to it when the “risk on” trade starts back up.
The gold markets rose, and the triangle that we have been talking about is very much in effect at the moment. The projected target of 1.12 based upon the triangle’s measurement doesn’t seem like such a stretch now that the Fed has promised a weak currency out of America. We are buying this pair only, and like using dips as entry points.
AUD/USD Forecast January 26, 2012, Technical Analysis
Originally posted here
