AUD/USD News for the week of July 22, 2013

The AUD/USD pair went back and forth on Friday, and as you can see close slightly positive for the day. Nonetheless, we are still well underneath the resistance that needs to be overcome in order to even remotely think about buying this market. We think that the 0.93 level will continue to keep the market down, so we feel there is more room to the downside than up. We think that the 0.90 level will continue to be rather supportive, but if we managed to get below that area – look out below.