AUD/USD Forecast June 3, 2013, Technical Analysis

The AUD/USD pair fell hard during the Friday session, but as you can see bounced at the very end of the day. However, it looks like this market is trying to break down, and in this general vicinity we could see a serious break down that would have this market going much lower. Because of this, we believe that the 0.95 level will offer a bit of support, but in reality we are going much lower, especially considering that we have broken down to a fresh new low on the longer-term charts. The 0.90 level is our target at this point in time. Rallies will more than likely offer opportunities to sell going forward.



Written by FX Empire