The AUD/USD pair did very little during the session on Friday, but held onto the 0.9650 level for support. This area is significant on the longer-term charts as well, holding up support for several years on the weekly charts. Because of this, we think that there is a real chance that this market bounces from here, especially considering everybody seems eight the Australian dollar right now. On the other hand, if we break down below the 0.9550 level, this would be a horrible sign and the market should continue to crumble at that point.
Written by FX Empire