The AUD/USD pair fell during the session on Monday, continuing to grind away with a negative attitude. The markets seem to be heading towards the 0.90 handle, and as a result we are more than comfortable selling on a break of the lows. Nonetheless, we do have to look at the opposite, and that of course would be a break above the 0.93 handle. Above there, this market suddenly become a very bullish. However, we see nothing in this market it shows is that we’re going to breakout anytime soon. A move below the 0.90 handle could set up a fall all the way down to the 0.85 level area
Written by FX Empire