The AUD/USD pair had a slightly positive day on Tuesday, but not without the bears trying to send the pair back down. Still, at the end of the session the candle wasn’t all that impressive. The fact is that as long as there are concerns about Europe and Chinese slowing, this pair will struggle. Currently, there are plenty of reasons to be worried. With this in mind, we prefer to sell rallies, and we see plenty of resistance points above from which to do so. The parity and 1.02 levels are by far the most resistive. On a move higher and a weak candle at one of those levels we will sell. We will also sell if we make a fresh new low. Buying isn’t a thought until the market closes above the 1.02 level.
Written by FX Empire