The AUD/USD pair fell hard during the session on Wednesday, but found enough support at the 0.8950 level to bounce slightly. However, we look at this more or less as a consolidation area that we have been in for roughly 2 weeks. The middle of the area of course is a 0.90 level, which naturally makes the area interesting as it is a large, round, psychologically significant number. The market looks like it’s trying to figure out which direction to go now, so we are waiting for some type of impulsive candle in order to get involved.
