The AUD/USD pair fell initially during the session on Friday, but bounced enough to form a hammer. This hammer suggests that the market is going to find support at the 0.9350 handle, and as a result we think a break of the highs is probably get enough reason to start buying. This market will find a lot of resistance at the 0.95 level though, to do expect it to be relatively short-term move. As far as a longer-term move, we need to get above the 0.95 handle to even begin to think about going somewhere like that.
Written by FX Empire