The AUD/USD pair fell during the session on Wednesday as you can see, but more importantly found the 0.90 level supportive enough in order to form a hammer. This candle suggests that we are going to bounce from here, and stay within the consolidation range that is defined by 0.90 on the bottom, and 0.93 on the top. However, if we managed to break below the bottom of the candle, we are more than willing to start selling as we think the Australian dollar will fall enough to start looking for the 0.85 handle.
Written by FX Empire