The AUD/USD pair fell hard during the session on Wednesday, closing at the very lows of the range. We still see significant support in the neighborhood of 0.90, so it’s a bit difficult to short in this vicinity. However, a daily close below that level would have us aiming for the 0.88 handle before too long, and therefore have us bearish of the Aussie dollar yet again. Buying isn’t possible at the moment. Unless of course we see a supportive candle near the 0.90 handle, which of course could signify a continuation of the consolidation we seen over the last couple of weeks.
Written by FX Empire