March Australian dollar futures a selling opportunity on more price weakness.
See on the daily bar chart for the March Australian dollar futures that prices have again slumped and late last week hit a contract low. The bears are again in full command, to suggest still more downside price pressure to come. A move below chart support at last Friday’s contract low of .8632 would become a selling opportunity. The downside price objective would be .8350 or below. Technical resistance, for which to place a protective buy stop just above, is located at .8775.
