The AUD/USD pair fell during the session on Monday, but just slightly so. It looks like we are continuing to try to form some type of rounded base at this point, and as a result we think that there might be still a bit of bullishness in the Australian dollar. At the end of the day however, the 0.93 handle continues to be resistive, and more than likely is just the beginning of resistance as we will more than likely find it at the 0.95 handle as well. That being the case, we actually prefer selling the Australian dollar, but we do not have the right resistive candle at this moment in time.
Written by FX Empire