AUD/USD technical analysis (bearish market) for June 20, 2013

 

Overview: 

AUD/USD: According to the previous events, the price has still been trapped between 0.9150 and 0.9190. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.9225 with the first target at 0.9153 and the price will climb towards 0.9100. However, if the pair fails to break 0.9100, the market will indicate a bearish opportunity above 0.9100, then the level will really act as a strong support. It will be a good sign to buy above 0.9100 with the first target at 0.9165 and it will call for an uptrend in order to continue bullish movement towards 0.9210.