AUD/USD fell after first rising on Thursday. The pair failed to stay above the 1.05 level again, and it appears that the path of least resistance is down at this point. However, with the Jackson Hole announcement coming out later today, all bets are off. If there is an announcement of another round of quantitative easing on the way, this pair will shoot straight up. If it isn’t mentioned, there is a good chance that this pair continues to fall. In the mean time, smart traders are waiting until after that news conference.
Written by FX Empire