AUD/USD Forecast April 16, 2012, Technical Analysis

 The AUD/USD pair fell on Friday as the sellers came into the various markets and got rid of risk before the weekend. The 200 day EMA is slicing through the center of the recent price action, and as a result, it looks as if we are going to continue to grind lower in the immediate future. However, the longer-term charts look a bit more supportive, and the 50% Fibonacci level is just below, so we prefer to buy supportive candles at this point as we think the long term trend will reassert itself. 
AUD/USD Forecast April 16, 2012, Technical Analysis
AUD/USD Forecast April 16, 2012, Technical Analysis

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