The AUD/USD pair went back and forth during the very illiquid session on Thursday, essentially selling around the 0.89 handle. This ultimately confirmed in the consolidation area that we have been trading and, and has relegated this pair to be a short-term scalpers market. That being the case, we feel that this market’s going to be difficult to trade, but do recognize that there is an immense amount of resistance at the 0.90 level, and would be willing to sell any resistant candle in that general vicinity as the sellers will clearly be encouraged by the recent downtrend.
Written by FX Empire