AUD/USD Forecast Dec. 28, 2011, Fundamental Analysis
The AUD/USD pair was little changed with the beginning of the week, where low volume dominated the pair’s movements which led it to trade sideways near last week’s closing levels. The Australian dollar could not record more gains against the US dollar after it recorded its highest level in two
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The Australian dollar could not record more gains against the US dollar after it recorded its highest level in two weeks, despite the weak greenback which retreated against other major currencies.
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The AUD/USD pair is still affected by the lower volume in the FX market due to the Christmas and New Year holidays, which dragged most of investors out of the market.
On Wednesday, both economics will not release any major fundamentals, where the pair’s movement will depend on the market sentiment.