The AUD/USD pair fell hard during the session on Monday, and continued its weakness as the Australian dollar simply cannot get out of its own way. However, we think that there is quite a bit of noise and support below and we believe that selling at this point time would be very difficult. In short, we see this is a very weak pair, but don’t see anything bullish about the chart that would have us trying to buy the Aussie at this point time. However, we do see the 1.02 level as being a fairly significant support level and supportive candles near that price would have is interested in buying.
Written by FX Empire