AUD/USD Forecast July 31, 2013, Technical Analysis

The AUD/USD pair fell hard during the session on Tuesday, trying to break down to the 0.90 handle again. That level has been very supportive though, and to break down below there is probably going to take something rather special. If we do break down below that level however, we think this market will more than likely trying to hit the 0.85 level rather quickly. On the other hand, the level could offer support, so we would be careful about shorting until we get a daily close below that handle. After all, we may be about to see a nice looking hammer.



Written by FX Empire