The AUD/USD pair went straight up during the session on Monday, but as you can see the 0.90 handle offered resistance as predicted. That being the case, we are actually looking for sell signals in this general vicinity, and would even consider short term charts for the entry. Whether or not we get some type of massive break down may be a completely different story, but we think the likelihood of the pair pulling back in this region is very high. As far as buying is concerned, we have no interest in buying the Australian dollar at the moment, as it has been one of the worst performing currencies in the G 10.
Written by FX Empire