The AUD/USD pair rose during the session on Friday, but as you can see could not breakout above the resistance. In fact, we see the 0.93 handle as crucial for the buyers to get past in order to start going long. Until then, we think this pair goes back and forth, bounces around, and generally makes a nuisance of itself. We are more inclined to sell a resistive candle if we get it in this neighborhood, but right now we really don’t see a trade one way or the other. That being said, we are watching.
Written by FX Empire