1 Aug 2013
AUD/USD, 0.8858 and 8775 next targets - 2ndSkies
FXstreet.com (Barcelona) - AUD/USD has alimented yet more bearish commentaries across the market place, especially after another milestone by breaking the important level of support at 0.9000.
According to Chris Capre, Founder at 2ndSkies, "The selling off the role reversal levels confirms the sellers used this as a nice opportunity to get short, thus the downtrend should resume."
Capre sees "0.8858 and 8775 becoming downside targets (Aug. 3, 2010 lows) while corrective pullbacks towards the big figure at 9000 become resistance and potential sell entries; daily close above 9000 and follow up gains would negate this bearish bias."
According to Chris Capre, Founder at 2ndSkies, "The selling off the role reversal levels confirms the sellers used this as a nice opportunity to get short, thus the downtrend should resume."
Capre sees "0.8858 and 8775 becoming downside targets (Aug. 3, 2010 lows) while corrective pullbacks towards the big figure at 9000 become resistance and potential sell entries; daily close above 9000 and follow up gains would negate this bearish bias."