The AUD/USD pair rose during the session after the Federal Reserve announced that it was not going to start tapering off of quantitative easing. Because of this, it makes sense that the markets of course punish the US dollar, and raced directly to the next resistance area in the form of the 0.95 handle. That being the case, we would not be buying here, but would certainly buy a breakout above the highs for the session, or even a pullback that shows signs of support on a short-term chart. Start selling, we just simply cannot do it now.
Written by FX Empire