AUD/USD Forecast Weekly 4 Mar 13

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In the previous AUD/USD forecast we noted that the support of 1.0230 held. It remained as an immediate support followed by 1.0150. There were speculations that the Australian interest rate would remain untouched and this brought about positive sentiments.

Technical Analysis

Looking at the AUD/USD daily chart above we do note that the bearish momentum has resumed. The support of 1.0230 had failed and next in line will be the strong support region of 1.0150. Do be cautious as the bearish momentum is rather strong. Always have your proper money management on at all times. If 1.0150 fails, we may see 1.0080 next.

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