The AUD/USD pair initially rose during the session on Tuesday, trying to breakout and above the parity level. However, this is the third session in a row that we’ve seen parity act as resistance, and as a result we are starting to look weaker and weaker. With this in mind, a break of the lows from the session is a signal to continue to sell down to roughly the 0.98 handle based upon longer-term charts. For buying, it’s impossibility as long as we see these red candles. We simply would have to see a move back above the parity level in order to even remotely consider that at the moment.
Written by FX Empire