Aud/Usd going to Break 1.000

Aud/Usd has been a fairly predictable pair to trade lately being as it has been in such a strong trend.

The pair almost made it past the 1.000 level earlier today and then it has retraced since then. So I would look for this pair to go back to that level soon. I will be waiting for a bullish engulfing candle on a 1hr chart.

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Here is the Chart

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  • Smajumdar

    Yes, in the balance of probabilities, it is highly likely that AUD/USD Pair would break resistance 1:1 range soon. But all deepends on the nature of “Quantitative Easing” by US Fed Resrve and how soon. The Pair was hovering in the mid 99c range during late morning on Fiday 15 Oct, move south to a range of 99.99100c range and is moving. Once again I would prefer to consider Singapore market report on tigtening monetary policy very carefully before making any venture.