The AUD/USD pair tried to break above the 1.06 handle again on Friday, but failed just as it did on Thursday. After that, we solve quite a bit of a selloff, but recognize the fact that the 1.05 level should offer quite a bit of support based upon the noise that is focused in that area. Because of this, we are hoping to see some type of supportive candle eases there, or at the 1.04 handle. If we get that, we are more than willing to buy as this should push the market higher and eventually above the 1.06 handle. If we see that, we think we enter another leg higher in this already bullish market.
Written by FX Empire