AUD/USD Forecast June 24, 2013, Technical Analysis

The AUD/USD pair had a slightly positive session on Friday, bouncing off of the 0.92 handle. This being the case, it does appear that we are trying to stabilize a little bit, but quite frankly we think that any rally at this point in time is simply an invitation to start selling again. We believe that the 0.95 level should be resistive, and the markets are heading back down towards the 0.90 handle before it’s all said and done. Because of this, we are not buying this market under any circumstances, at least nothing that’s underneath the 0.97 handle.



Written by FX Empire