AUD/USD fell during the Tuesday session, completely wiping out the gains from the Monday session. The fears over the European crisis are weighing on risk assets, and the Aussie is one of the most favored ways for currency traders to express their opinion on risk in general it makes sense this pair fell. The 1.02 level held as resistance, and we now look set to continue falling. The breaking of the lows on Tuesday will be considered a selling opportunity, as well as short-term rallies as long as we are below the 1.02 handle. As for buying, we would have to see several days above the 1.02 level to consider it.
Written by FX Empire