The AUD/USD fell initially during the Monday session, but as you can see got a little bit of a boost later in the day. The resulting candle of course is a little bit of a hammer, but quite frankly we think that the 0.93 level will still be resistive enough to consider forgetting this. Above there, we see the 0.95 level is been extraordinarily resistive, and because of that we actually prefer that this market goes higher, simply because we can sell it from higher levels later. As far as buying is concerned, we would have to clear the 0.97 level to even be thinking of that.
Written by FX Empire