The AUD/USD pair had a negative session on Friday again, as we meander below the 0.90 handle. Below there, we feel that this market will continue to weaken, and eventually we will at the 0.85 handle and the longer-term. That being the case, we feel that this market is a “sell on” type of market, and that we should struggle to get back above the 0.90 handle. Even if we do get above that level, we feel that the market certainly will run into plenty of resistance above there in order to become easily sold again.
Written by FX Empire