The AUD/USD pair struggled during the session on Monday, dipping below the 0.94 handle at one point in time, but as you can see bounced enough to form a hammer. This hammer suggests that the market will continue to try to breakout above the 0.95 handle, but we don’t think that the area will give way to the buyers that easily. With that being the case, we feel that the market is probably going to be tough here, but if we get a daily close above the 0.9550 handle, we be more than willing to start buying again.
Written by FX Empire