The AUD/USD pair fell during the session on Friday, but as you can see formed a double bottom down near the 0.9420 level. The shape of the candle for the Friday session is a hammer, in this suggests that we could find support in this general vicinity. What makes even more interesting is the fact that it is at the 0.95 handle, an obvious “big round number” in the Forex markets. However, there is so much noise above we actually would prefer to see this market break down below the lows of the last two sessions in order to start shorting it.
Written by FX Empire