The AUD/USD pair fell during the session on Tuesday, but as you can see bounced again in order to form a hammer for the second session in a row. This market looks like it’s ready to bounce, and a short-term trader could take advantage of move above the highs from both Monday and Tuesday, but more than likely will find the 0.95 level as very, very resistive. In fact, we believe the most lucrative trade is to simply wait for the market to pop back to that region, and then start shorting again.
Written by FX Empire