June Australian dollar futures a selling opportunity on more price weakness.
See on the daily bar chart for the June Australian dollar futures, traded at the Chicago Mercantile Exchange, that prices have sold off recently, hit a four-month low on Wednesday, and are in a six-week-old downtrend. The Aussie dollar bears have downside near-term technical momentum. A move below technical support at this week’s low of 1.0103 would become a fresh selling opportunity. The downside price objective would be .9900, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.0200.
