The AUD/USD pair tried to rally during the session on Friday, but as you can see gave back quite a bit of the gains. The real thing to pay attention to is the fact that we did not break the top of the shooting star from Thursday, so therefore we didn’t really breakout at all. This quite a bit of support below at the 0.90 handle though, so we are not willing to sell the Australian dollar at this point in time. We would really like to see is a breakout to the upside, and then some type of resistive candle near the 0.9250 level, from which to start selling. We are not interested in buying this pair until we get above the 0.93 handle, but would start selling aggressively below the 0.90 handle.
Written by FX Empire