The AUD/USD pair shot higher during the session on Friday again, showing just how strong the Australian dollar has suddenly become. This of course is because the Federal Reserve looks unlikely to taper off of quantitative easing anytime soon, so make sense that the Australian dollar being such a commodity laden currency should take off to the upside. We believe that the 0.95 level is the floor the market now, and therefore any pullback should struggle to get below that number. We are buyers of pullbacks as we believe ultimately this market goes as high as parity.
Written by FX Empire