June Australian dollar futures a selling opportunity on more price weakness.
See on the daily bar chart for the Australian dollar futures that price action this week has seen prices drop to a fresh 2.5-month low and a four-week-old downtrend is now in place. The bears have gained downside technical momentum recently. A move below chart support at 1.0199 would become a fresh selling opportunity. The downside price objective would be 1.0000, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.0300.
