AUD/USD Technical Analysis September 26, 2011

The AUD/USD pair fell again on Friday as traders continued to sell off riskier assets around the world. The resulting bar was a bit of a hammer, and a bounce wouldn’t be out of the question at this point. The parity level is the area we would like to sell from if we get the chance, as it could be very resistive. The breaking of fresh lows would be a decent selling opportunity as well. We aren’t really interested in buying the Aussie at the moment as there are simply far too many headline risks around the world in which to spook this risk-sensitive market presently.

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