June Australian dollar futures a buying opportunity.
See on the daily bar chart for the June Australian dollar futures that prices are in a solid uptrend and have just hit a fresh four-month high. The bulls have technical momentum on their side, to suggest prices can continue to trend sideways to higher in the near term. A move above resistance at Wednesday’s high of .9194 would become a buying opportunity. The upside price objective would be .9450, or above. Technical support, for which to place a protective sell stop just below, is located at .9075.
