The AUD/USD pair rose during the session on Thursday, gaining back much of the losses that the market incurred on Wednesday. However, we are still well within the consolidation area that we have been in, and still think that the 0.93 level will offer plenty resistance. Even if we get above that level, we think that the 0.95 level is massive resistance, and would look to sell any type of resistive candle between here and there. We have no intention on buying the Australian dollar until we clear the 0.97 handle on a daily candle close.
Written by FX Empire