AUD/USD Forecast July 16, 2013, Technical Analysis

The AUD/USD pair fell initially during the session on Monday, but as you can see the 0.90 handle has offered enough support to keep the market somewhat buoyant. The level is without a doubt a very significant one, and because of this we would need to see a breakdown and a daily close below the 0.90 handle in order to start selling. On the other hand, if we managed to rally from here we would be more than willing to sell at a higher level. The 0.95 handle will more than likely be very resistive, but we think that would be an excellent selling opportunity.


Written by FX Empire