The AUD/USD pair fell on Friday, but we still remained above the 0.90 handle. We really need to break down below that area in order to be comfortable shorting at this point, although it must be stated that the weekly chart has an absolutely horrible looking shooting star on it. That is our base case, that this pair does breakout eventually. However the 0.90 level of course be very supportive because of the big number of fact. On the other hand, if we got a rally in this pair, we are more than willing to sell that as well, and believe that there will be plenty of short-term opportunities going forward to do just that strategy.
Written by FX Empire