AUD/USD Forecast June 1, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 June 2016 08:11 UTC
The NZD/USD pair broke higher during the day on Tuesday, clearing the top of the hammer that formed on Monday. While this is normally a very bullish sign, there is a significant amount of resistance above at the 0.73 level, and also the 0.74 handle. A shooting star or some type of exhaustive candle after a rally is reason enough to start selling, and as a result that’s what I’m waiting for as I don’t really see any other play, with perhaps the one exception being a break down below the bottom of the hammer on Monday which of course would show a pickup up momentum to the downside.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.