The AUD/USD pair fell significantly during the day on Friday but bounced off the 0.7670 area, showing signs that there is plenty of support. We have a lot of resistance above, but given enough time I feel that the market will try to break above the 0.7750 level, and that should send this market to much higher levels, perhaps the 0.80 handle. I have no interest in selling, it appears that every time we try to sell off, the buyers come back to lift this market yet again. On top of that, gold markets should only go higher, which of course lifts this pair.
Written by FX Empire