The AUD/USD pair fell during the session on Wednesday, but ultimately found a little bit of support around the 0.93 level. Above there, the market push back up and we ended up forming a hammer. A break of the top of the hammer sends this market looking for the 0.95 handle, given enough time. We are bullish of the Australian dollar in general, so even a pullback here should find plenty of support in our opinion down near the 0.9250 level. In fact, we can’t short this market until we clear below the 0.92 level.
