AUD/USD Forecast June 6, 2012, Technical Analysis

The AUD/USD pair had a slightly bullish session on Tuesday as the markets in general had a slightly firmer tone to them. The 0.99 level just above looks to be resistive, and could keep a lid on any moves. It is because of this level that we think a weak candle could appear in the near future. None the less, we are sellers only after this massive drop, and now we are waiting to get that weak candle at a resistance level such as the previously mentioned 0.99 level, or the parity level. If we breakdown to new lows – we sell this pair aggressively.

Written by FX Empire