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AUD/USD Forecast June 4, 2012, Technical Analysis

Daily Forex Reports | by FX Empire | Monday, 04 June 2012 07:29 UTC

The AUD/USD pair had a bearish day on the Friday session as the Non-Farm Payroll reports in America came out very weak. However, the bounce at the end of the day managed to form a hammer in this pair, and because of this it looks as if the 0.96 level is trying to become support.

The flag from the middle of last month suggested a move down to the 0.96 handle, and as of Friday we have met that target. Now we think that this pair is a “sell the rallies” market, and we think that the 0.99 and parity levels will offer selling opportunities.

 

AUD/USD Forecast June 4, 2012, Technical Analysis

Written by FX Empire

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