The AUD/USD pair rose during the session on Friday, breaking the top of the hammer that we had formed on Thursday which of course is a good bullish sign. However, we see a significant amount of resistance above at the 0.9150 level, and it must be stated that the New Zealand dollar does look very healthy at the moment. Since these two currencies tend to move in tandem, we are a bit suspicious about this move, and quite frankly won’t be taking this long position that seems to be suggested in this market at the moment.
