The Australian dollar tried to rally during the day on Friday, but found a bit of resistance near the 0.030 level. By pulling back, we have settled near the 0.0 level again, an area that has been very interesting from longer-term charts perspective. I believe that we will eventually find buyers, but we may need a little bit of help from the gold market, or perhaps more of a “risk on” feel to the markets. Given enough time, I expect buyers to come back, so I’m looking for support or a bounce to get involved.
Written by FX Empire