The AUD/USD pair fell during the session on Friday, but as you can see the 0.90 level offered enough support to push the market much higher. Ultimately, we close that the 0.91 handle, and formed a hammer that suggests that the market is going to continue to grind its way to the 0.9250 level. The weekly candle is a hammer as well, so we do believe that this market is in fact going to go higher at this point in time. Unless we get a daily close below the 0.90 handle, we cannot sell this market although we would not hesitate to sell on a resistive candle closer to the aforementioned 0.9250 level.
Written by FX Empire