The AUD/USD pair initially tried to rally during the course of the session on Thursday, but turn right back around to crash into the 0.75 level below. We believe that there is a significant amount of support all the way down to the 0.74 level, so having said that it seems as if there is more than enough support below to keep the market afloat as long as we don’t have some type of major change in overall attitude. A supportive candle in this region would be reason enough to start going long as the market continues to consolidate after a very impulsive move higher.
