The AUD/USD pair fell hard during the session on Monday as the “risk off” trade came back with a vengeance in the European afternoon. The parity level has served as massive resistance again, and this pair looks ready to continue the fall. In fact, we are using the parity level as a “ceiling” in this market as it should continue to push the pair lower. With the general attitude of this market, and all risk-related ones, we are comfortable selling again as the daily candle looks so weak. In fact, we are ready to enter now.
Written by FX Empire