AUD/USD Classical 05.03
AUD/USD: In the process of rebounding after slipping down just shy of 0.9100 in recent sessions. However, the market has been struggling to hold onto gains towards 0.9400 and we continue to retain a bearish bias, with a lower top sought out below 0.9385 ahead of the next major downside extension. In the interim, we recommend staying on the sidelines and awaiting a break back below 0.9135 for bearish confirmation. Back above 0.9385 negates and gives reason for pause.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.