The AUD/USD pair fell during the course of the session on Friday, but found enough support below the 0.77 level to turn things back around and form a hammer, just as we did on Thursday. With that, the market looks like it’s going to continue to consolidate so therefore we aren’t necessarily interested in being involved in this market. We believe that the market will continue to cause a lot of volatility and therefore it’s going to be difficult to place any type of trade and at the moment. However, we are paying attention to the gold market, and with that we will trade according to how the gold market affects the Aussie, which right now seems to be sitting still.
