The AUD/USD pair rose during the course of the day on Wednesday, breaking the top of several hammers. With that, the market tested the 0.93 level, where found a bit of resistance. We believe that the market could go higher, but getting above the 0.9350 level will be a bit difficult. Ultimately though, we are getting pretty close to showing signs of bouncing off of the bottom of the larger consolidation area, which could leave this market back to the 0.9450 level. We have no interest in selling this market until we close below the 0.92 handle.
