The AUD/USD pair fell during the session on Friday, continuing to pullback. However, the 0.93 level continues offer support, and therefore it’s not the market from falling any significant amount. We are now approaching an area where we would expect to find some type of support, and perhaps a bounce to try and break above the 0.95 handle again. After all, that is significant resistance, and if the market can get above that it would in fact be a major trading signal. On the other hand, if we get below the 0.93 level on a strong negative close, we think this market could begin to drift down again.
Written by FX Empire