AUD/USD Forecast Nov. 25th, 2011, Technical Analysis

AUD/USD rose during the session on Thursday as traders started short-covering. The pair is decidedly bearish, and sold back off later in the session. The pair finished the day forming a shooting star at the bottom of the fall, and shows that further weakness is probably in store. The breaking of the bottom of the session’s range would be another sell signal in this pair. The 0.9350 level below seems to be calling and we think that the pair will oblige the markets. The rallies are to be sold, and we don’t buy the Aussie because of the massive amounts of headline risks out there currently.

AUD/USD Forecast Nov. 25th, 2011, Technical Analysis AUD/USD Forecast Nov. 25th, 2011, Technical Analysis

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