AUD/USD Forecast June 25, 2013, Technical Analysis

The AUD/USD pair fell during the session on Monday, but bounced enough to form a hammer. Nonetheless, we think that with the Australian dollar being so highly leveraged to the Chinese economy, we will simply pass on this potential buying opportunity. Both of the antipode currencies at the moment look very ready to bounce, but just as with the New Zealand dollar, we see significant resistance just above. In this particular case, we see the 0.95 handle as being resistive. We are going to go ahead and let this pair bounce, it will be looking to sell somewhere closer to that number.

 

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