The AUD/USD pair fell during the session on Friday, but as you can see is starting to slow its descent. We still believe that there is a significant amount of support below, namely at the 0.95 handle. With that being the case, we feel that this market will get a bounce summer closer to that level, and therefore that’s what we’re waiting on, a supportive candle closer to what we believe is the “floor” in this market. That being said, we would take a supportive candle in this general vicinity, but do not have one yet so we are banking on the more obvious choice of the 0.95 handle.
Written by FX Empire