The AUD/USD pair fell for most of the day on Wednesday, as the world strayed away from the risk trade. The pair even managed to get with 14 pips of parity before the bounce at the end of the day. The pair certainly looks like it is vulnerable for further downside and the stock markets around the world will have to be watched for clues. The very end of New York trading was very bearish in the equity markets, and this could be a hint as to where the Aussie is going. We are selling short-term rallies on the first sign of weakness as this point in time.
Written by FX Empire