AUD/USD Forecast June 28, 2013, Technical Analysis

The AUD/USD pair tried to rally during the session on Thursday, but as you can see failed to hang onto the gains. In the end, we finished with the day with a shooting star, and this suggests that the buyers are still going to struggle to push the pair higher. The 0.93 level has been resistive over the last couple of days, and we expected to continue to be. Quite frankly, we are not interested in buying this pair until we clear the 0.96 handle, something that looks very unlikely at the moment. A break of the lows from the Monday hammer though, we would be more than willing to short this pair. We would also short resistive candles near the 0.95 handle.

 

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