The AUD/USD pair went back and forth during the session on Monday, hovering above the 0.9350 level. We still see the 0.93 level as supportive, and as long as we are above that, we are not comfortable selling at this point. In fact, we fully expect to see some type of supportive action in this general vicinity to send the market higher, perhaps looking for the 0.95 level over time. In fact, that’s exactly what we expect and therefore we are waiting for that supportive candle in order to start buying. This is a short-term set up at best, and we will treat it as such.
Written by FX Empire