AUD/USD Forecast 28 Jan 13

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In the previous AUD/USD forecast we noted that the currency pair was bearish. This was despite the currency pair trying to recover from a bearish dip. The currency pair tested the support of 1.0480.

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair faced a stronger bearish pressure this week. The support level of 1.0480 was taken out and the AUD/USD went down to test the 1.0400 support. Should the bearish pressure continue, immediate support will be 1.0400 followed by the extended target of the 1.0360 support.

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.