The AUD/USD pair had a positive showing on Wednesday, which of course needed to happen if there was any hope whatsoever of this market not completely falling off of a cliff. This being the case, we think that this market might offer a little bit of a bounce in order to start shorting again. We either will see a rally they get sold off, or this could be the beginning of something pretty special to the upside. Nonetheless, we feel that this market more than likely will continue to the downside, as there have been such bearish pressure on the Aussie dollar, and as a result would celebrate of the Wednesday lows. On the other hand, if we managed to rally and form some type of resistive candle, we would be willing to sell that as well.
Written by FX Empire