The AUD/USD pair shot straight up for the session on Monday as the bounce that many had waited for. The pair seems to be finding a lot of support 0.98 levels, and as a result we think this pair could continue higher. A break of the highs on the Monday session has the market looking for the parity and then 1.02 levels. However, we don’t like taking on risk in these kinds of environments, and we prefer to sell this pair at higher levels. Because of this, we think that a weak candle could be a sell signal near parity and 1.02 or so. On one of those candles, we are sellers.
Written by FX Empire