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 solid uptrend and last week hit a multi-month high. Prices are seeing a corrective pullback on Tuesday but the bulls are still in firm command and there are no early technical clues that a market top is close at hand. A move above chart resistance at last week’s high of .9419 would give the bulls fresh upside momentum and it would also become a buying opportunity. The upside price objective would be .9750, or above. Technical support, for which to place a protective sell stop just below, is located at .9250.
