The AUD/USD pair fell during the session on Thursday after forming a beautiful shooting star on Wednesday. However, a lot of the losses pulled back, and as a result it looks like the market wants to continue grinding higher.
However, just above we see the 1.06 level as being very resistive. We would need to clear that in order to be comfortable buying this point time, although we do think that buying is the correct direction. We also see the 1.05 level as massive support, so we feel in a lot of ways that this market is ready to go sideways for the next couple of sessions.
Written by FX Empire