AUD/USD Forecast July 25, 2013, Technical Analysis

The AUD/USD pair fell hard during the session on Tuesday, continuing to stay within the consolidation area that we have been in for roughly one month. Going forward, we still think that the 0.90 level is massive support, and if we can get below there things can get really ugly, really quick. On the other hand, if we can get above the 0.93 handle, we think the next stop the 0.95, an area that should have plenty of resistance itself. As far as buying is concerned, we need to clear the 0.97 handle in order to be comfortable doing so for anything longer than a short-term scalp.



Written by FX Empire