June Australian dollar futures a buying opportunity on more price strength.
See on the daily bar chart for the June Australian dollar futures that prices are in a three-week-old uptrend and have this week hit a two-month high. The Aussie dollar bulls have gained some upside near-term technical momentum recently, to suggest prices can continue to trend sideways to higher in the near term. A move above chart resistance at .9000 would give the bulls better upside momentum and it would also become a buying opportunity. The upside price objective would be .9400, or above. Technical resistance, for which to place a protective sell stop just below, is located at this week’s low of .8835.
