The Australian dollar went back and forth on Monday as we continue to bounce around in consolidation. I believe there’s plenty of resistance at the 0.76 level. And exhaustive candle in that area would be and I selling opportunity, but I believe that the 0.75 handle underneath is supported. The 0.7450 level under that I think it needs to be broken to sell this market for any real length of time. In the meantime, you will probably have to employ some type of range bound trading strategy if you want to be involved in the Australian dollar.
Written by FX Empire