The AUD/USD pair fell rather hard during the session on Wednesday, breaking down to fresh new lows at one point during the session. The Australian dollar looks particularly vulnerable at this point in time, and as a result we would be very comparable selling on a short-term rallies, and a break of the lows that we have seen over the last 24 hours. In order to buy this pair, we would have to see a significant break higher, perhaps a daily close above the 0.9850 level to be convinced that momentum had shifted enough in order to do so.
Written by FX Empire