Forex Analysis : AUD/USD
A huge week for the Aussie (and Gold) the angle on incline on the chart is a testimony to the US’s bad management of monetary policy.
• The Aussie’s bullish trend is buoyed by gold and saw a very strong close at 1.0958.
• We may see it spike to test a resistance at 1.1117 early week, but unless gold starts to pullback, then this pair may rally all the way to 1.1200 or so before long.
• If gold starts to sell-off, the Aussie has 1.0850 as first main support then a 100 pip range from 1.0770 to 1.0670