The AUD/USD pair fell hard during the session on Thursday, and at one point in time actually broke below the 0.88 level. However, towards the end of the day we saw enough support in this market to make a close above that handle, thereby avoiding a significant fall from massive support. Nonetheless, we now have an obvious entry to the short side if we managed to break below the bottom of the Thursday session. On the other hand, shorting rallies from here wouldn’t be a bad idea either, which is more than likely how we’re going to start selling.
Written by FX Empire