The AUD/USD pair went back and forth during the session on Monday, bouncing off of the 0.90 handle again. In the end though, the markets were basically unchanged, in this suggests that the markets are ready to go anywhere right now. We had previously seen consolidation between the 0.90 level and the 0.93 handle. We think that it is very possible that is what’s about to happen again. However, if we break down below the 0.90 handle on a daily close, at that point time we would believe that this market is going down to the 0.85 handle.
Written by FX Empire