The AUD/USD pair had a slight positive session on Thursday, bouncing off the 0.8850 level. However, this market is broken by all accounts, and therefore we believe that the downward channel that we see in the market arena will continue. Any type of resistant candle just below the 0.90 level will be sold by us, and with considerable size. Buying is not possible at this point in time as the Australian dollars absolutely broken, and quite frankly the gold markets broke a very significant support level during the session as well. Because of this, we expect to hit the 0.85 level.
Written by FX Empire