The AUD/USD pair went higher during the course of the day on Friday, but as you can see struggled at the 0.7850 region yet again. Ultimately, this is a pair that looks like it’s trying to break out to the upside but there is such massive resistance above that we are very hesitant to get involved until we break well above the 0.80 handle. With this, we prefer to see some type of resistive candle in order to start selling, but recognize that we have not gotten that signal quite yet. Pay attention, the inertia seems to be building up.
