The AUD/USD pair had a volatile session on Friday only to end up unchanged at the end of the session. The 0.97 level looms large as support below, and this has kept the sellers at bay so far. However, the fact that there simply hasn’t been a rally of any significance at this area suggests that we will see lower prices. The breaking and a daily close sub-0.97 has us selling this pair. With the “risk off” attitude of the markets, it is hard to see the Aussie suddenly becoming desired. Rallies will also be sold on weak candles.
Written by FX Empire