AUD/USD Forecast July 10, 2013, Technical Analysis

The AUD/USD pair had a strong showing during the session on Tuesday, slamming towards the 0.92 handle. However, we still see this market as struggling to get higher, and because of this we feel that this market will more than likely meet resistance soon enough. We are simply waiting for that resistive candle in order to start selling the Aussie dollar again as it has been so weak, and we see no reprieve coming. Quite frankly, until we get above the 0.97 level, there’s no real need to be long of this market and simply being patient should produce nice selling opportunities.

Written by FX Empire