September Australian Dollar Futures a Selling Opportunity on Fresh Price Weakness
See on the daily bar chart for the September Australian dollar futures that recent price action has seen higher volatility at higher price levels, which is an early technical clue of a market top being in place. A rare and bearish diamond pattern has also formed on the daily chart. A move in prices below chart support at .9300 would give the bears some fresh downside near-term technical momentum and it would also become a selling opportunity. The downside price objective would be .9100 or below. Technical resistance, for which to place a protective buy stop just above, is located at .9400.
