The AUD/USD pair rose again during the session on Friday, as the consolidation between 1.02 and 1.0370 continues. Within this chart, it’s hard to think that we will breakout as the 1.04 level looks so resistive. Because of this, we are going to sit on the sidelines and see if we get some type of resistive candle in order to start shorting. Otherwise, on a daily close above the 1.04 handle we are more than willing to start buying as it would show a breakout and a move towards the 1.06 level.
Written by FX Empire