AUD/USD Forecast Nov. 18th, 2011, Technical Analysis

The AUD/USD pair broke below the parity level on Thursday, and continued its bearish tone overall. The 0.99 level below should be somewhat supportive, and if that area gives way – this pair should fall much, much lower. The upside is going to be difficult in this pair at this point in time as it is so risk sensitive. The world’s markets are getting nervous, and this is never a good thing for the Aussie. We like selling a break below 0.99, and any rallies that present themselves.

Leave a Reply

Your email address will not be published. Required fields are marked *