AUD/USD Technical Analysis October 3, 2011

AUD/USD continued its fall on Friday as traders are selling off anything risk related at this point. The Aussie is especially sensitive to the global economy, and as there are concerns about China slowing down – the AUD is going to get sold off. We are sellers of the Aussie at this point, and will only sell. Rallies are to be sold, and a break of the 0.9550 area would signal another large leg down in this pair.

Written by FX Empire