The AUD/USD pair fell significantly during the Friday session, and even managed to pull down below the parity level during the session. However, you can see that the markets did bounce back above it and we formed is something that looks somewhat like a hammer. We are not calling for a long position this point in time, rather we are simply pointing out the fact that a break of the lows from the Friday session would be extraordinarily bearish, and have the market selling off quite significantly. As far as buying is concerned, we believe that any ballots will run into significant trouble at the 1.02 handle, and would be interested in selling at that area as well if we see some type of resistance.
Written by FX Empire