The AUD/USD pair rose during the session on Monday, bouncing hard off of the lows in order to form a strong looking green candle. However, we are approaching the 0.93 handle, an area that has been a cluster of trading over the last week and a half. That being the case, we do expect resistance, and we most certainly expect resistance near the 0.95 handle. Because of this, we are not buying the strength, rather waiting to see some bit of resistance above in order to continue selling this market that is most certainly bearish.
Written by FX Empire