The AUD/USD pair went back and forth during the session on Monday, ultimately settling nothing. This market continues to look like there is a little bit of support below, but ultimately we believe that the market suggests that the sellers are still in control. The 0.90 level should continue to offer resistance, thereby giving nice selling opportunities on resistive candles. We do not have that resistant candle yet, so we are on the sidelines. However, keep in mind that the nonfarm payroll numbers will more than likely move the value the US dollar, which of course would have a massive effect on this pair.
Written by FX Empire