AUD/USD Technical Analysis for July 5, 2011

The AUD/USD fell in Asian trading on Monday as building approval and retail sales announcements disappointed the market. The truth is that the Aussie is still in a massive uptrend, and we won’t sell it. We are simply waiting for a supportive candle to buy this pair yet again. Until we break below 1.02, which is a long way away, we are buying this pair only.

Written by