The AUD/USD pair fell during the session on Wednesday, testing the 0.89 level for support. That area of course offered support, and therefore we bounce slightly from it. However, we believe that the market will continue to meander in this general vicinity, and therefore give a real possible selling opportunity if we can get down below the 0.88 handle. Below there, the Australian dollar falls apart. In the meantime though, we believe that this market will simply go sideways with more of a downward bias than anything at the moment. We will continue to sell short-term rallies.
Written by FX Empire