Daily Forex Reports |
Written by FX Empire |
Friday, 29 June 2012 09:23 GMT
The AUD/USD pair fell for most of the session after an initial spike. The candle from Thursday looks a bit like a long legged doji and suggests that there is a bit of confusion in the markets. Obviously, the parity level below should provide support and this looks especially true based upon the Monday hammer.
The 1.01 level held as resistance so it looks like we are going to wind this pair off before making a larger move. With this being said we have two levels to watch: the bottom of the Monday hammer, which would be a sell signal if it gives way – or the top of the recent rally at the 1.02 level which would be a massively bullish signal if it gives way. In the meantime, we see noise.
Written by FX Empire