The AUD/USD pair went back and forth during the session on Thursday as the markets tried to dissect the worse than expected US economic numbers. The Dollar was beat up on throughout the session, and this pair was no different. The result candle is a hammer, and this suggests that the pair could get a bit of a bump. However, we see a lot of resistance at the 0.93 level, and until then we don’t like the idea of buying this market. The downside will be protected at the 0.90 handle as well, limiting the selling opportunity.
Written by FX Empire