The AUD/USD pair had a slightly positive session on Monday as the 1.05 level continues to offer support. It is because of this that we are more than willing to go along at this point as we think consolidation between 1.05 and 1.06 should continue. Obviously, there is a significant amount of support in the general vicinity, and because of this we feel fairly comparable with this trade. As far as selling is concerned, we see far too many support levels below in order to be bothered with it as the longer-term trend is most certainly to the upside.
Written by FX Empire