Today’s Forex Signal June 30th

AUDUSD – One More Barrier to Go
After an impressive 10-day 750pip rally off the yearly lows to .8850, the pair has slumped 6 out of the last 8 days with the candle from two days ago being the 3rd largest sell-off of the year. Today’s candle had a with-trend rejection and ended up bearish so we expect the pressure to continue.  The pair is just sitting above the 61.8% retracement of the 8100-8850 move at .8381.

Watch for price to have a 4hr close below this fib.  Should it do so and also be 20+pips below, we expect a return back to 8100 which is a good 160+pips below.

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