AUD/USD Technical Analysis September 1, 2011

The AUD/USD pair had a neutral day on Wednesday as traders fought back and forth on whether the pair should rise or fall. The pair looks like it is trying to decide if it can break into the 1.0700 area, which is the bottom of an area that should be somewhat resistive. The pair is certainly bullish, so if it falls we would be willing to buy on dips, at least until the pair breaks below the 1.05 area. A break of the highs on Wednesday would also have us buying. We don’t sell this pair at all until we close below parity.

Written by FX Empire