The AUD/USD pair went back and forth during the session on Wednesday, but as you can see essentially went nowhere. We are just underneath significant resistance, so we are willing to sell on a break of the bottom of the candle from the Wednesday session. The Australian dollar continues to be one of the weakest G 10 currencies out there, and because of that we are more than willing to sell rallies as they show signs of resistance. On the other hand though, we can see that it’s very possible this market would rise again, but we think the 0.95 level only be more resistive.
Written by FX Empire