AUD/USD Technical Analysis September 20, 2011

AUD/USD fell hard on Monday, and unlike the rest of the “risk currencies”, it didn’t bounce that much at the end of the session, or at least a lot less than these types of currencies. With that being stated, we no longer like the Aussie as much as other currencies such as the Kiwi dollar, or other riskier currencies. While this doesn’t mean this pair will fall much, it does suggest that there are other pairs that should perform better than this one. Having said all of that, we can’t sell until we get a daily close below parity, and aren’t necessarily excited about buying this pair as the gap hasn’t been filled from the morning, and the 1.05 area should be massively resistive.

Written by FX Empire