The AUD/USD pair rose during the session on Friday, but as you can see really didn’t gain much. We still see a significant amount resistance above at the 0.95 handle, and as a result we feel that this market should continue to struggle in this general area although with a slightly positive bias. That being the case we feel that this market will be a short-term traders market at best, and until we clear the reason I just above the 0.95 handle, we are not comfortable buying the Australian dollar, but we certainly see no reason to sell it either.
Written by FX Empire