The AUD/USD pair fell during the session on Monday, but bounced towards the end of the day just above the 1.02 support level. This level has been rather supportive lately, and as a result we are not surprised to see that the market is closing about 50 pips above it. With that being the case, we think that we could continue to see a little bit of a grind higher, and the 1.02 level is an obvious area from which to start buying as well. As far as selling is concerned, 1.0 one has to be broken to the downside to consider it. Until then, we think that this is going to be a short-term traders market at best.
Written by FX Empire