AUD/USD Forecast July 5, 2013, Technical Analysis

The AUD/USD pair gained slightly during the session on Thursday, as the 0.9150 level has offered support again. Because of this, we feel that this market is simply going to grind sideways until the nonfarm payroll number is announced, and because of this we feel that this market is going to react wildly to the nonfarm payroll number as it typically does. Any bounce in this pair should be an opportunity to sell, especially as we get closer to the 0.95 handle. If we managed to break down below the lows from the Wednesday session, we would be sellers as well, but we would also have to clear the 0.90 handle.



Written by FX Empire