Kathy Lien takes a look at the Australian dollar chart.
Take a look at the Australian dollar chart below. Do you see the Head and Shoulders or triple-top formation?
The Australian employment numbers didnt make anyone happy. A deeper pullback is likely, but I don’t except the AUD/USD to trade much lower than 99 cents. Remember the hawkish comments by the RBA?
Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.