December Australian Dollar Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the December Australian dollar futures that prices have dropped sharply this week and hit a 5.5-month low. The bears have quickly gained solid downside technical momentum to suggest still more selling pressure in the near term. A move below technical support at Thursday’s low of .9043 would become a selling opportunity. The downside price objective would be .8825, or below. Technical resistance, for which to place a protective buy stop just above, is located at .9150.
