AUD/USD Forecast June 19, 2013, Technical Analysis

The AUD/USD pair fell during the session on Tuesday, after printing a shooting star on Monday. This looks like it’s rather weak, but there is a hammer from last week that suggests that there is a bit of support down here as well. With that being the case, we think that we are simply going to be stuck in a consolidation range, basically between the 0.97 level on the top, and the 0.94 level on the bottom. If we can break down below the lows of the session, and more importantly the 0.93 handle – we feel this market could really break down. The trend is most certainly to the downside, so that is essentially what we are waiting on.



Written by FX Empire