The AUD/USD pair initially fell during the day on Friday, but found enough support to turn things back around and form a hammer. We believe that a break above the top the hammer probably sends this market looking for the 0.72 level. If we can get above there, then the uptrend may have a little bit more sustainability to it. In the meantime, we believe that some type of resistive candle would be a reason to start selling in what is already a massively negative trend in the Australian dollar as we have seen over the last several months.
