The AUD/USD pair rose during the course of the day on Friday, bouncing off of the 0.9225 region. However, the market really hasn’t taken off to the upside, so we still think that there is a significant amount of bearish pressure above. Ultimately though, we think that this market continues to consolidate between the 0.92 handle, and the 0.9450 region. With that, we are looking to buy the Australian dollar, but don’t quite have the setup that we are looking for. With that, we are patient but recognize that this is the area we should be seeing bullish pressure.
