AUD/USD Forecast 8 Oct 12

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Good day forex traders and forex koalas.

In the previous AUD/USD forecast we noted that any intensification of the bearish momentum might see the extended bearish target of 1.02 hit. The fundamental environment was not encouraging as China faces increasing challenges. Furthermore there was no viable Euro Zone budget deficit solution in sight.

Solution : ProRealTime

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair is at a crucial support region. As per last week’s forecast, intensified bearish momentum will send the currency pair to 1.02. If the 1.02 support region gives way, we may be seeing more bearish pressure to come. Well i love it when my chart works Woot!

Don’t miss the fundamental analysis,

continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.