The AUD/USD pair fell on Thursday as the risk appetite around the world fell for the session. The candle for the day went as low as the 1.03 level, a level we see as minor support. The 200 day EMA is just above, and will continue to put pressure on the pair going forward. However, there are easier trades out there than shorting the Aussie as it is in a long-term uptrend. Because of this, we are only buying, but won’t do that until we are above the 200 day EMA on a daily close. In the mean time, we sit still.
Written by FX Empire