The AUD/USD pair went back and forth during the session on Thursday, basically focusing on the 1.03 handle. However, at the end of the session we did settle much and it appears that we have essentially stopped dead in our tracks at the 1.03 handle. This level could offer a bit of support, and considering how the market has sold off of the last couple sessions, this was of course a fairly bullish sign. Nonetheless, we do not see a buying opportunity at this point as there is far too much in the way of noise above.
Written by FX Empire