The AUD/USD pair attempted to rally during the Friday session, but even in the low liquidity could not do so. The candle formed for the session is a shooting star, but it sits just above a massive supporting area at the 1.04 handle. This level was massively resistant previously, and we have broken out and trying to retest it for support. However, it should also be noted that the weekly candle is a shooting star, so we could in fact get a bit of a break down here. In order to buy this market, we need to break the top of the Friday session and that would convince us. Alternately, we managed to break down below the 1.0350 level, we be more than happy to start selling.
Written by FX Empire