AUD/USD Forecast 27 May 13
By ltan | May 26, 2013 2:21 AM EST
Simultaneous Release at
Good day forex traders and readers.
In the previous AUD/USD forecast we noted that the currency pair remained bearish and that we might see 0.95+ as an extended bearish target. There were speculations that investors were selling currencies such as the Australian dollars in exchange for US dollars so as to participate in the equities rally of the S&P 500.
Looking at the AUD/USD daily chart above we note that the currency pair remains bearish. The bearish trend is strong as we can obviously see from the chart above. As we continue to make progress towards the extended bearish target of 0.9580, expect a change in trend only if the fundamental and sentimental situation changes significantly. In the meanwhile, immediate supports are to be found as high as 0.9620.
Traders who are speculating any bullish correction should ensure that proper money management is in place.
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.
Most Popular Slideshows
- In Photos, Typhoon Rammasun Blasts the Philippines
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
Join the Conversation
- Google Nexus 8 Release Date Soon Along with 2 More HTC Android Tablets – Reports
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- Sony PlayStation 4 Outsells a Resurgent Xbox One in June
- Killer Xiaomi Mi4 at $369 Likely to Come With 5.0-Inch Display, Snapdragon 801 Processor, 3GB RAM and More