AUD/USD Classical 05.06
AUD/USD: The market has once again stalled out ahead of 0.9400 to open the latest sharp round of setbacks as we had warned in previous commentary. The risks from here are for an acceleration of declines with a break and close below critical psychological barriers by 0.9000 to confirm bias. From here, look for any rallies to be well capped ahead of 0.9200, while below 0.9000 exposes the next drop to 0.8800 further down.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.