The AUD/USD pair had a volatile session during the session on Friday, reaching as high as 0.81, and then fell significantly. I believe that the 0.0 level underneath continues to be massively supportive, as it was massive resistance. This breakout, if it holds, should be a very massive sign of bullish pressure. I believe that the market continues to go higher, reaching towards much higher levels over the longer term. Ultimately, I think that breaking above the 0.80 level is a very positive a sign for the Aussie. A lack of ability to raise interest rates by the Federal Reserve seems to be creeping into the market, and that should send this market much higher.
Written by FX Empire