The AUD/USD pair initially fell during the course of the day on Friday, but found enough support below at the 0.71 level to turn things back around and form a bit of a hammer. The hammer that has formed during the session suggests that we are going to go higher, and as a result we are buyers above the top of the range for the day. With this, the market should then reach towards the 0.7250 level. We believe that there is a massive amount of support below the hammer from the Thursday as well, and as a result we are “buy only.”
