[B]Simultaneous Release at
TheGeekKnows.com [URL="http://thegeekknows.com/"]Learn Forex Trading[/URL] and read exclusive [URL="http://thegeekknows.com/"]EUR/USD Forecast[/URL] and [URL="http://thegeekknows.com/"]AUD/USD Forecast[/URL] Reviews.[/B]
Good day forex traders and koalas!
In the previous AUD/USD forecast we noted that the conditions are bullish but the resistance in the region is strong. Fundamentally we continue to see the same weakness in the US job market and Euro Zone budget deficit crisis. While China remains slow, efforts by the Central Bank to spur growth is encouraging.
[B][I]AUD/USD Daily Chart[/I][/B]
Looking at the AUD/USD chart above we note that the currency pair remains capped by the 1.0560 region. As mentioned in my previous forecast, this is a strong resistance region.
A bullish trend line has been drawn above and this would serve as a support for the current momentum. As per mentioned, we need 1.0560 to be taken down first before we can consider the extended target of 1.0750.
[B]Don’t miss the fundamental analysis and technical chart,
continue on to TheGeekKnows.com for the fundamental analysis of the [URL="http://thegeekknows.com/2012/08/audusd-forecast-13-august-12.html"]AUD/USD Forecast[/URL] Weekly Review to understand more about the underlying market sentiments.[/B]
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.