The AUD/USD pair initially fell during the course of the day on Friday, but then broke higher in order to test the 0.88 region. This is an area where we anticipate to see a lot of resistance, so quite frankly we are looking for a resistant candle in order to start selling. The gold markets had a very strong session though, so we may get a little bit of follow-through but it’s only a matter of time in our opinion that the sellers step back and answer taking advantage of the US dollar strength.
